*Nigeria’s Federation Account Allocation Committee disburses total N1.659 trillion to the Federal Government, States, and Local Government Councils as revenue generated May 2025

Isola Moses | 绿帽献妻

Sequel to its recent meeting held in Abuja, FCT, the Federation Account Allocation Committee (FAAC) has disbursed total N1.659 trillion as revenue generated May 2025 among the Federal Government, States, and Local Government Councils (LGCs).

The disbursement followed the FAAC meeting held in Abuja for the month of June 2025.

Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF), in a communique issued at the end of the meeting, indicated that the total distributable revenue comprised N863.895 billion from statutory sources, N691.714 billion from Value-Added Tax (VAT), N27.667 billion from the Electronic Money Transfer Levy (EMTL), and N76.614 billion from Exchange Difference.

From the total N1.659 trillion shared, the Federal Government received N538.004 billion, states received N577.841 billion, and local government councils got N419.968 billion.

Additionally, N124.076 billion, representing 13 percent of mineral revenue, was distributed to oil-producing states as derivation revenue.

Providing further breakdowns, the communique noted that from the statutory revenue of N863.895 billion, the Federal Government received N393.518 billion, states received N199.598 billion, and local governments received N153.881 billion.

Another N116.898 billion from this amount was shared with oil-producing states as derivation revenue.

Of the N691.714 billion VAT revenue, the Federal Government received N103.757 billion, while the states and local governments got N345.857 billion and N242.100 billion respectively.

For the EMTL revenue of N27.667 billion, the Federal Government received N4.150 billion, the states received N13.833 billion, and the local councils got N9.683 billion.

The FAAC communiqu茅 further indicated that from the Exchange Difference revenue of N76.614 billion, the Federal Government received N36.579 billion, the states received N18.553 billion, and the local government councils got N14.304 billion.

A further N7.178 billion was allocated to oil-producing states as 13 percent derivation fund.

Gross revenue available in May stood at N2.942 trillion, with N111.908 billion deducted for cost of collection, and N1.171 trillion allocated for transfers, interventions, and refunds.

The statement also highlighted that gross statutory revenue May this year totalled N2.094 trillion 鈥� an increase of N10.023 billion from the N2.084 trillion recorded April.

Similarly, VAT revenue rose to N742.820 billion in May from N642.265 billion in April, marking an increase of N100.555 billion.

It stated: 鈥淐ompanies Income Tax (CIT), Value Added Tax (VAT), and Import Duty recorded significant increases in May, while CET levies, Petroleum Profit Tax (PPT), Oil and Gas Royalties, and the EMTL declined. Excise Duty showed a marginal increase.鈥�

Kindly Share This Story