What do you believe is the single most important factor driving up the cost of living in Nigeria?

The revenue distribution was announced following the committee’s September meeting in a statement by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, on Tuesday.

It comprises several income streams, including statutory revenue, Value Added Tax (VAT), and the Electronic Money Transfer Levy (EMTL).

The breakdown of the distributable revenue reveals that N186.636 billion came from statutory sources, while VAT contributions amounted to N533.895 billion. The EMTL added N15.017 billion, with a significant N468.245 billion attributed to exchange rate differences.

The communiqué issued by FAAC highlighted that total revenue available for August stood at N2.278 trillion. However, after deductions for the cost of collection (N81.975 billion) and transfers, interventions, and refunds (N992.617 billion), the distributable sum stood at N1.203 trillion.

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