Special Adviser, Media and Public Communications for State House, Daniel Bwala has disclosed that Nigeria recorded an unprecedented revenue generation milestone.
In a post on his X account on Saturday, the presidential spokesman wrote ”A gross total revenue of N3.143 trillion is the highest-ever recorded since FAAC allocations began.
”Kudos to President @officialabat for blocking loopholes and freeing up funds for rapid development.
”States and local governments are now receiving unprecedented allocations, and it’s time for Nigerians to enjoy the dividends of these reforms.
”I enjoin our state governors to make judicious use of these increments in allocations in service of our people.
”The time to harvest the different gains of the Renewed Hope is nigh; continue keeping faith with the Prophet of the Renewed Hope Prophecy.”
NEW DAILY PRIME reported that the Federation Account Allocation Committee (FAAC) has distributed a whopping N1.727 trillion to the federal, state, and local governments as federation allocation for November 2024.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun disclosed this during FAAC’s December 2024 meeting, which he chaired.
According to him, the allocation, drawn from a gross total revenue of N3.143 trillion, included contributions from Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference (ED).
