FAAC Distributes ₦2.001 Trillion in July Revenue to Federal, State, Local Govts
[NigerianEye - Nigeria] - 22/08/2025
The Federation Account Allocation Committee (FAAC) has announced the disbursement of ₦2.001 trillion in revenue for July 2025, shared among the federal, state, and local governments. The allocation, drawn from a total gross revenue of ₦3.837 trillion, was revealed during the committee’s latest meeting in Abuja.According to FAAC, ₦152.681 billion was deducted to cover collection expenses, while ₦1.683 trillion was set aside for transfers, interventions, refunds, and savings. The gross statutory revenue for July stood at ₦3.070 trillion, reflecting a significant decline of ₦415.108 billion (…)
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