Nigeria TV Info — Economy News

The Federation Account Allocation Committee (FAAC) yesterday distributed a record N2.001 trillion from the July 2025 Federation Account Revenue to federal, state, and local governments, marking the highest monthly allocation this year. The August FAAC meeting in Abuja revealed that the revenue pool comprised multiple statutory sources, including Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange gains. According to Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, the distributable revenue included N1.282 trillion statutory revenue, N640.610 billion VAT, N37.601 billion EMTL, and N39.745 billion from exchange differences.