Fire Hits Gombe’s ‘Yan Katako Market, Traders Suffer Losses

FAAC disbursed N1.92 trillion for November to the federal government, states, and local councils, including N1.40 trillion from statutory revenue, N485.83 billion from VAT, and N39.64 billion from the Electronic Money Transfer Levy (EMTL). Total gross revenue was N2.34 trillion, with N84.25 billion for collection costs and N330.62 billion for transfers, interventions, refunds, and savings. Statutory revenue fell to N1.736 trillion from October’s N2.164 trillion, while VAT dropped to N563.04 billion. The federal government received N747.15 billion, states N601.73 billion, local councils N445.26 billion, plus N134.35 billion as derivation revenue. Excise duties grew slightly, but petroleum profit tax, company income tax, VAT, and other levies declined.

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