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The Federation Account Allocation Committee (FAAC) shared N1.659 trillion to the federal government, states, and the local government councils in May 2025.

The revenue was shared at the June 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The N1.659 trillion total distributable revenue comprised distributable statutory revenue of N863.895 billion, distributable Value Added Tax (VAT) revenue of N691.714 billion, Electronic Money Transfer Levy (EMTL) revenue of N27.667 billion, and Exchange Difference revenue of N76.614 billion.

A communique issued by the FAAC on Wednesday, June 18, 2025, said gross revenue of N2.942 trillion was available in May.

The FAAC said the total deduction for cost of collection was N111.908 billion, while total transfers, interventions and refunds was N1.171 trillion.

The committee stated that gross statutory revenue of N2.094 trillion was received in May, adding that this was higher than the sum of N2.084 trillion received in April by N10.023 billion.

It noted that gross revenue of N742.820 billion was available from the VAT in May, saying this was higher than the N642.265 billion available in April by N100.555 billion.

The FAAC stated that from the N1.659 trillion total distributable revenue, the Federal Government received N538.004 billion and the State Governments received total sum of N577.841 billion.

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The Local government Council received N419.968 billion, while the sum of N124.076 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.

On the N863.895 billion distributable statutory revenue, the FAAC stated that the Federal Government received N393.518 billion, while the State Governments received N199.598 billion.

The Local Government Councils received N153.881 billion and the sum of N116.898 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

From the N691.714 billion distributable VAT revenue, the Federal Government received N103.757 billion, the State Governments received N345.857 billion, and the Local Government Councils received N242.100 billion.

The FAAC disclosed that N4.150 billion was received by the Federal Government from the N27.667 billion EMTL, State Governments received N13.833 billion, and the Local Government Councils received N9.683 billion.

From the N76.614 billion Exchange Difference revenue, the FAAC stated that the Federal Government received N36.579 billion, while State Governments received N18.553 billion.

The Local Government Councils received N14.304 billion, while the sum of N7.178 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

The committee revealed that in May 2025, VAT, Companies Income Tax (CIT), and Import Duty increased significantly, while CET Levies, Petroleum Profit Tax (PPT), Oil and Gas Royalty, and EMTL recorded decreases.

It added that Excise Duty increased only marginally.

The Star

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