FAAC Disburses N2.38trn To FG in 2017 - NBS

 Tuesday, January 22, 2019 05:30 PM / NBS   

The Federation Account Allocation Committee (FAAC) disbursed the sum of N2.38trn to the Federal Government of Nigeria in 2017 while states received a total of N1.79trn within the period under review. 

The amount disbursed to the FGN comprised of N2.12trn as Gross Statutory Allocation, N139.39bn as Valued Added Tax (VAT), N32.74bn as NNPC refund to FG and the distribution of N24.24bn from the FOREX equalisation fund. 

Akwa Ibom and Rivers States received the highest allocation of N143.61bn and N119.63bn respectively in 2017 while Osun and Cross River States received the least allocation of N10.44bn and N23.45bn in that order.

Click Here to Download 2017 FAAC Disbursement Series PDF Report

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