The Federation Account Allocation Committee (FAAC) has distributed a total of ₦1.928 trillion among the federal, state and local governments for November.
A statement issued Monday night by the Federal Ministry of Finance said total revenue accrued to the Federation Account for the month stood at ₦2.343 trillion.
From the amount shared, the Federal Government received ₦747.159 billion, state governments ₦601.731 billion, and local government councils ₦445.266 billion. Oil-producing states received ₦134.355 billion as 13 per cent derivation revenue from mineral resources.
The statement added that ₦84.251 billion was deducted as cost of collection, while ₦330.625 billion was allocated to transfers, interventions and refunds.
Value Added Tax (VAT) revenue for the month amounted to ₦563.042 billion, down from ₦719.827 billion in the previous month, representing a decline of ₦156.785 billion. After deductions, ₦485.838 billion was shared, with the Federal Government receiving ₦72.876 billion, states ₦242.919 billion and local governments ₦170.043 billion.
Gross statutory revenue stood at ₦1.736 trillion, compared with ₦2.164 trillion recorded in October. From this, ₦1.403 trillion was distributed among the three tiers of government after deductions for cost of collection and transfers.
Revenue from the Electronic Money Transfer Levy (EMTL) totalled ₦43.400 billion, with ₦5.947 billion allocated to the Federal Government, ₦19.823 billion to states and ₦13.876 billion to local governments, after relevant deductions.
