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Office of the Accountant General of the Federation
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 Federation Account Department
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Table I
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Summary of Gross Revenue Allocation by Federation Account Allocation Committee for the Month of May, 2024 Shared in June, 2024
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S/nBeneficiariesStatutoryExchange GainElectronic Money Transfer Levy (EMTL)Value Added TaxTotal
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₦₦₦₦₦
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1FGN (see Table II) 61,009,719,436.61 233,016,629,143.40 2,271,919,965.84 69,513,800,857.04 365,812,069,402.89
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2State (see Table III) 30,944,945,014.17 118,189,148,267.11 7,573,066,552.80 231,712,669,523.47 388,419,829,357.54
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3LGCs (see Table IV) 23,857,255,512.42 91,118,879,277.79 5,301,146,586.96 162,198,868,666.43 282,476,150,043.59
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413% Derivation Fund 41,370,742,955.77 65,131,595,026.06 - - 106,502,337,981.83
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5Cost of Collection - NCS 18,292,922,936.52 - 2,559,495,659.21 20,852,418,595.73
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6 Cost of Collections - FIRS 18,354,945,508.09 - 631,088,879.40 17,347,091,069.61 36,333,125,457.10
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7 Cost of Collections - NUPRC 19,461,176,910.50 - - - 19,461,176,910.50
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8Transfer to NMDPRA 39,841,271,391.83 - - - 39,841,271,391.83
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9Refund to NUPRC on cost of collection 9,474,768,076.03 - - - 9,474,768,076.03
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1013% Derivation Refund on withdrawals from ECA/Signature Bonus 100,000,000,000.00 - - - 100,000,000,000.00
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1113% Refunds on Subsidy, Priority Projects 18,163,078,852.38 - - - 18,163,078,852.38
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12North East Development Commission - - - 14,332,742,444.75 14,332,742,444.75
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1313% Derivation in respect of NNPC Management Fee and Frontier Exploration Fund April, 2024 3,123,640,311.48 - - - 3,123,640,311.48
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14Transfer to non-oil Excess Account 520,000,000,000.00 - - - 520,000,000,000.00
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15Balance of 2024 Tax Refund-FIRS 20,000,000,000.00 - - - 20,000,000,000.00
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16Second Tranche of Funding for the Presidential Metering Initative 100,000,000,000.00 - - - 100,000,000,000.00
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17Transfer to non-oil Excess account - 80,000,000,000.00 - - 80,000,000,000.00
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18Refund due to States from the Net off with States from the withdrawals made from ECA 1/4 200,000,000,000.00 - - - 200,000,000,000.00
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TOTAL 1,223,894,466,905.80 587,456,251,714.36 15,777,221,984.99 497,664,668,220.50 2,324,792,608,825.65
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Table II
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Distribution of Revenue Allocation to FGN by Federation Account Allocation Committee for the Month of May, 2024 Shared in June, 2024
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1234=2-35678=4+5+6+7
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S/nBeneficiariesGross Statutory AllocationTotal DeductionNet Statutory AllocationExchange GainElectronic Money Transfer Levy (EMTL)Value Added TaxTotal
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₦₦₦₦₦₦₦
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1FGN (CRF Account) 56,168,781,182.15 (104,881,193,010.68) (48,712,411,828.53) 214,527,458,493.82 2,120,458,634.78 64,879,547,466.57 232,815,052,766.65
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2Share of Derivation & Ecology 1,158,119,199.63 - 1,158,119,199.63 4,423,246,566.88 - - 5,581,365,766.52
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3Stabilization 579,059,599.82 - 579,059,599.82 2,211,623,283.44 - - 2,790,682,883.26
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4Development of Natural Resources 1,945,640,255.38 - 1,945,640,255.38 7,431,054,232.36 - - 9,376,694,487.75
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5FCT-Abuja 1,158,119,199.63 (248,063,295.00) 910,055,904.63 4,423,246,566.88 151,461,331.06 4,634,253,390.47 10,119,017,193.05
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Total 61,009,719,436.61 (105,129,256,305.68) (44,119,536,869.07) 233,016,629,143.40 2,271,919,965.84 69,513,800,857.04 260,682,813,097.21
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……………………………………………………………
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Mr. Wale Edun
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Hon. Minister of Finance and Coordinating Minister for the Economy
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Abuja. Nigeria.
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