How Nigeria’s Gross Revenue Drops to N1.150trn in July – FAAC

 

Nigeria received a Gross statutory revenue of N1.150 trillion in July, according to the Federation Account Allocation Committee, FAAC.

FAAC disclosed this in a communique on Tuesday.

The committee said the N1.150 trillion depreciated compared to the figure received in June, which stood at 1.152 trillion, representing a differential of N2.497 billion.

The figure comprised statutory revenue of N397.419 billion, Value Added Tax (VAT) revenue of N271.947 billion, Electronic Money Transfer Levy (EMTL) revenue of N12.840 billion and Exchange Difference revenue of N283.904 billion.

FAAC said from the amount received as revenue, N966.110 billion was shared among the federal, state and local governments.

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