FAAC disburses record highest N3.007tn to FG, states, LGs for July

The Federation Account Allocation Committee, FAAC, has approved the disbursement of N3.007 trillion to the Federal Government, authorities governments and section authorities councils arsenic gross for July 2026.

The determination was reached astatine the FAAC gathering held successful Owerri, Imo State, according to a connection issued connected Tuesday by the spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa.

During the play nether review, FAAC’s gross statutory gross roseate to N4.359 trillion, representing an summation of N658.087 billion, oregon 17.8 per cent, from the N3.700 trillion recorded successful June 2026.

The July disbursement besides accrued by N457 cardinal compared with the N2.55 trillion shared successful June.

DAILY POST reports that the N3.007 trillion distributed successful July represents the highest monthly FAAC allocation recorded truthful acold successful 2026.

However, gross Value Added Tax, VAT gross fell marginally to N793.968 cardinal successful July, down by N5.778 billion, oregon 0.7 per cent, from the N799.746 cardinal recorded successful June.

DAILY POST recalls that FAAC distributed N1.96 trillion successful January, N1.89 tril...