FAAC submits October 2024 report, Net report stands at 1.4 Trillion
The Federation Account Allocation Committee (FAAC) has released its October 2024 report, showing a gross revenue of N2.668 trillion. This revenue comprises statutory revenue of N1.336 trillion, VAT revenue of N668.291 billion, and exchange difference revenue of N566 billion. However, N97.517 billion was spent on collection costs, while N1.159 trillion went towards transfers, interventions, and…