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  • FAAC shares N2.103tr to FG, States, LGAs for September 2025

    FAAC shares N2.103tr to FG, States, LGAs for September 2025

    A total of N2.103 trillion has been shared to the Federal, States, and Local Governments from the Federation Account Revenue generated in September 2025.

    The allocation was at the October 2025 meeting of the Federation Account Allocation Committee (FAAC) in Abuja.

    According to a communiqué at the end of the meeting, the N2.103 trillion total distributable revenue comprised N1.239 trillion from statutory revenue, N812.593 billion from Value Added Tax (VAT), and N51.684 billion from the Electronic Money Transfer Levy (EMTL).

    The communiqué stated that the total gross revenue available in September 2025 was N3.054 trillion.

    From this amount, N116.149 billion was deducted as the cost of collection while N835.005 billion was set aside for transfers, interventions, refunds and savings.

    It added that the gross statutory revenue for September 2025 stood at N2.128 trillion, which was N710.134 billion lower than the N2.838 trillion recorded in August 2025.

    In contrast, gross revenue from VAT amounted to N872.630 billion, showing an increase of N150.011 billion compared to the N722.619 billion generated in August 2025.

    From the N2.103 trillion total distributable revenue, the communiqué disclosed that the Federal Government received N711.314 billion, while the State Governments received N727.170 billion. The Local Government Councils got N529.954 billion, and N134.956 billion, representing 13 percent of mineral revenue, was allocated to oil-producing states as derivation revenue.

    Giving further details, FAAC stated that from the N1.239 trillion distributable statutory revenue, the Federal Government received N581.672 billion, the States received N295.032 billion, and the Local Governments got N227.457 billion. The sum of N134.956 billion was shared to the oil-producing states as derivation revenue.

    From the N812.593 billion distributable VAT revenue, the Federal Government received N121.889 billion, the States received N406.297 billion, and the Local Governments received N284.408 billion.

    In the distribution of the N51.684 billion EMTL revenue, the Federal Government received N7.753 billion, the State Governments received N25.842 billion, and the Local Government Councils received N18.089 billion.

    The communiqué also noted that in September 2025, revenue from Import Duty, VAT, and EMTL increased significantly, while revenue from Companies Income Tax (CIT) and Common External Tariff (CET) levies declined. It added that Petroleum Profit Tax (PPT) recorded a marginal increase, while Oil and Gas Royalty and Excise Duty declined slightly.

    The Federation Account Allocation Committee meeting was attended by representatives of the Federal Ministry of Finance, the Office of the Accountant-General of the Federation, the Nigerian National Petroleum Company Limited (NNPCL), the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS), and representatives of State Commissioners for Finance and State Accountants-General.

  • FAAC distributes record N2.22tr to Fed, states, councils

    FAAC distributes record N2.22tr to Fed, states, councils

    The Federation Account Allocation Committee (FAAC) has disbursed N2.225 trillion as federation revenue to Federal Government, States and councils.

    This is for the month of August.

    The highest-ever allocation marks the second consecutive month that FAAC disbursements have crossed the N2 trillion mark.

    The N2.01 trillion revenue for July, shared during the August FAAC meeting in Abuja, was buoyed by increases in Oil and Gas Royalty, Value Added Tax (VAT) and Common External Tariff (CET) levies, according to a communiqué issued at the end of the meeting.

    Of the N2.225 trillion distributable revenue for August, the committee said that N1, 478.593 trillion came from statutory revenue, N672.903 billion from VAT, N32.338 billion from the Electronic Money Transfer Levy (EMTL), and N41.284 billion from Exchange Difference.

    The communiqué showed that gross federation revenue for the month stood at N3.635 trillion. From this amount, N124.839 billion was deducted as cost of collection, while N1,285.845 trillion was set aside for transfers, interventions, refunds and savings.

    From the statutory revenue of N1.478 trillion, the Federal Government received N684.462 billion, State Governments received N347.168 billion, and Local Government Councils received N267.652 billion. A further N179.311 billion (13 per cent of mineral revenue) went to oil-producing states as derivation revenue.

    Read Also: FG disburses N330bn to households under social protection Programme

    From the distributable VAT revenue of N672.903 billion, the Federal Government received N100.935 billion, the States received N336.452 billion, while the Local Governments got N235.516 billion.

    Of the N32.338 billion shared from EMTL, the Federal Government got N4.851 billion, the 36 states received N16.169 billion and N11.318 billion went to the local government areas.

    From the N41.284 billion Exchange Difference, the Federal Government received N19.799 billion, the States received N10.042 billion, the councils received N7.742 billion, while N3.701 billion (13 percent of mineral revenue) was shared to the oil-producing states as derivation.

    While total allocation in August set a new record, FAAC explained that gross statutory revenue fell to N2.838 trillion, compared to N3.070 trillion in July — a drop of N231.913 billion.

    The communiqué explained that Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Import Duty, Excise Duty, and EMTL recorded decreases during the month, while VAT, Oil and Gas Royalty, and CET levies boosted overall revenue.

    Since January, the In the allocations are as follows: January N1.703 tr; February N1.678 tr; March N1.578 tr; April N1.681 tr; May N1.659 tr; June N1.818 tr; and July N2.001 tr.

  • FAAC distributes record N2.22tr revenue for August

    FAAC distributes record N2.22tr revenue for August

    The Federation Account Allocation Committee (FAAC) has disbursed  N2.225 trillion as federation revenue for August 2025 — the highest ever allocation to the three tiers of government and other statutory recipients. 

    This marks the second consecutive month that FAAC disbursements have crossed the N2 trillion mark.

    The revenue, shared at the August 2025 FAAC meeting in Abuja, was buoyed by increases in Oil and Gas Royalty, Value Added Tax (VAT), and Common External Tariff (CET) levies, according to a communiqué issued at the end of the meeting.

    Out of the N2.225 trillion total distributable revenue, FAAC said N1,478.593 trillion came from statutory revenue, N672.903 billion from VAT, N32.338 billion from the Electronic Money Transfer Levy (EMTL), and N41.284 billion from Exchange Difference.

    The communiqué revealed that gross federation revenue for the month stood at N3.635 trillion. From this amount, N124.839 billion was deducted as cost of collection, while N1,285.845 trillion was set aside for transfers, interventions, refunds, and savings.

    Read Also: FAAC distributes record N2tr revenue to federal, state, LGAs

    From the statutory revenue of N1.478 trillion, the Federal Government received N684.462 billion, State Governments received N347.168 billion, and Local Government Councils received N267.652 billion. A further N179.311 billion (13 percent of mineral revenue) went to oil-producing states as derivation revenue.

    From the distributable VAT revenue of N672.903 billion, the Federal Government received N100.935 billion, the States received N336.452 billion, while the Local Governments got N235.516 billion.

    Of the N32.338 billion shared from EMTL, the Federal Government received N4.851 billion, the States received N16.169 billion, and the Local Governments received N11.318 billion.

    From the N41.284 billion Exchange Difference, the Federal Government received N19.799 billion, the States received N10.042 billion, the Local Governments received N7.742 billion, while N3.701 billion (13 percent of mineral revenue) was shared to the oil-producing states as derivation.

    While total allocation in August set a new record, FAAC disclosed that gross statutory revenue fell to N2.838 trillion, compared to N3.070 trillion in July — a drop of N231.913 billion.

    The communiqué explained that Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Import Duty, Excise Duty, and EMTL recorded decreases during the month, even as VAT, Oil and Gas Royalty, and CET levies boosted overall revenue.

  • FAAC distributes record N2tr revenue to federal, state, local govts

    FAAC distributes record N2tr revenue to federal, state, local govts

    The Federation Account Allocation Committee (FAAC) yesterday shared a record N2.001 trillion from the July 2025 Federation Account Revenue to the three tiers of government, making it the highest monthly allocation so far this year.

    The allocation was confirmed at the August 2025 FAAC meeting held in Abuja, where officials disclosed that the revenue pool for the month was drawn from multiple statutory sources including Value Added Tax (VAT), the Electronic Money Transfer Levy (EMTL), and exchange gains.

    According to a statement issued by the Director of Press and Public Relations in the Office of the Accountant General (OAGF), Mr. Bawa Mokwa, the distributable revenue consisted of N1.282 trillion statutory revenue, N640.610 billion from VAT, N37.601 billion from EMTL, and N39.745 billion from exchange difference.

     Mokwa explained that the total gross revenue available in July stood at N3.836 trillion, from which N152.681 billion was deducted for the cost of collection, while transfers, interventions, refunds and savings accounted for N1.683 trillion.

    “Gross statutory revenue for July was N3.070 trillion, which is lower by N415.108 billion compared with the N3.485 trillion received in June. On the other hand, gross VAT revenue rose to N687.940 billion in July, higher than the N678.165 billion recorded in June by N9.775 billion,” the communiqué noted.

    Read Also: FAAC: Demand accountability from governors, Emami tells Nigerians

    From the total distributable revenue of N2.001 trillion, the Federal Government received N735.081 billion, State Governments got N660.349 billion, and Local Government Councils shared N485.039 billion. The sum of N120.359 billion, representing 13 percent of mineral revenue, was allocated to oil-producing states as derivation.

    Breaking down the statutory revenue of N1.282 trillion, the Federal Government took N613.805 billion, States N311.330 billion, Local Governments N240.023 billion, while N117.714 billion went to the oil-producing states as derivation.

    From the N640.610 billion distributable VAT revenue, the Federal Government received N96.092 billion, States N320.305 billion, and Local Governments N224.214 billion.

    The EMTL revenue of N37.601 billion was shared with the Federal Government receiving N5.640 billion, States N18.801 billion, and Local Governments N13.160 billion. Similarly, from the N39.745 billion exchange difference, the Federal Government received N19.544 billion, States N9.913 billion, Local Governments N7.643 billion, while N2.643 billion was shared as derivation.

     The communiqué further disclosed that Petroleum Profit Tax (PPT), Oil and Gas Royalty, EMTL, and Excise Duty recorded significant increases during the month. VAT and Import Duty rose marginally, while Companies Income Tax (CIT) and CET Levies declined.

  • FAAC distributes record N2tr revenue to federal, state, LGAs

    FAAC distributes record N2tr revenue to federal, state, LGAs

    The Federation Account Allocation Committee (FAAC) on Friday shared a record N2.001 trillion from the July 2025 Federation Account Revenue to the three tiers of government, making it the highest monthly allocation so far this year.

    The allocation was confirmed at the August 2025 FAAC meeting held in Abuja, where officials disclosed that the revenue pool for the month was drawn from multiple statutory sources, including Value Added Tax (VAT), the Electronic Money Transfer Levy (EMTL), and exchange gains.

    According to a statement issued by the Director of Press and Public Relations in the Office of the Accountant General (OAGF), Mr. Bawa Mokwa, the distributable revenue consisted of N1.282 trillion statutory revenue, N640.610 billion from VAT, N37.601 billion from EMTL, and N39.745 billion from exchange difference.

    Mokwa explained that the total gross revenue available in July stood at N3.836 trillion, from which N152.681 billion was deducted for the cost of collection, while transfers, interventions, refunds and savings accounted for N1.683 trillion.

    “Gross statutory revenue for July was N3.070 trillion, which is lower by N415.108 billion compared with the N3.485 trillion received in June. On the other hand, gross VAT revenue rose to N687.940 billion in July, higher than the N678.165 billion recorded in June by N9.775 billion,” the communiqué noted.

    Read Also: FAAC: Demand accountability from governors, Emami tells Nigerians

    From the total distributable revenue of N2.001 trillion, the Federal Government received N735.081 billion, State Governments got N660.349 billion, and Local Government Councils shared N485.039 billion. The sum of N120.359 billion, representing 13 percent of mineral revenue, was allocated to oil-producing states as derivation.

    Breaking down the statutory revenue of N1.282 trillion, the Federal Government took N613.805 billion, States N311.330 billion, Local Governments N240.023 billion, while N117.714 billion went to the oil-producing states as derivation.

    From the N640.610 billion distributable VAT revenue, the Federal Government received N96.092 billion, the States N320.305 billion, and the Local Governments N224.214 billion.

    The EMTL revenue of N37.601 billion was shared with the Federal Government receiving N5.640 billion, States N18.801 billion, and Local Governments N13.160 billion. Similarly, from the N39.745 billion exchange difference, the Federal Government received N19.544 billion, the States N9.913 billion, Local Governments N7.643 billion, while N2.643 billion was shared as derivation.

    The communiqué further disclosed that Petroleum Profit Tax (PPT), Oil and Gas Royalty, EMTL, and Excise Duty recorded significant increases during the month. VAT and Import Duty rose marginally, while Companies Income Tax (CIT) and CET Levies declined.

  • N1.8tr FAAC, T-Bills, bond bolster liquidity

    N1.8tr FAAC, T-Bills, bond bolster liquidity

    • Naira falls despite $81m injection

    The N1.818 trillion Federation Account Allocation Committee (FAAC) June revenue allocation to the Federal Government, states and the Local Government Councils (LGs), N37 billion T-Bills maturities and N284.73 billion FGN bond coupon payments raised system liquidity as overnight (OVN) rates contracted last week.

    Director, Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, noted that explained that the FAAC shared at the July 2025 meeting in Abuja comprised N1.818 trillion total revenue comprised statutory revenue of N1.018 trillion, Value Added Tax (VAT) revenue of N631.507 billion and Electronic Money Transfer Levy (EMTL) of N29.165 billion.

    According to analysts from Cordros Securities , the overnight (OVN) rate contracted by 575 basis points (bps) week-on-week to 26.9 per cent as system liquidity was bolstered by inflows from the net NTB maturities (N37.00 billion), and FGN bond coupon payments (N284.73 billion).

    “Owing to the high liquidity influx, the average system liquidity improved, settling at a net long position of N214.13 billion (compared to a net short position of N465.18 billion in the previous week),” they said.

    “Barring any mop-up activities by the CBN, we expect the OVN rate to remain subdued, with inflow from FGN bond coupon payments (N41.62 billion) supporting liquidity,” they added.

    Also, the Treasury bills secondary market was broadly mixed, with a bullish tilt, broadly reflecting the improvement in financial system liquidity. Accordingly, the average yield across all instruments contracted by 6bps to 21.3 per cent. 

    Across the market segments, the average yield declined by 12bps to 17.7 per cent at the NTB segment expanded by 1bp to 24.7 per cent at the Open Market Operation segment.

    Read Also: FAAC: Hold your governors accountable, APC chieftain Emami tells Nigerians

    At Wednesday’s NTB auction, the Central Bank of Nigeria (CBN) offered bills worth N290.00 billion – N50.00 billion for the 91-Day, N20.00 billion for the 182-Day, and N220.00 billion for the 364-Day bills.

    “Total subscription levels settled at N675.66 billion (previous auction: N1.33 trillion), indicating a bid-to-offer ratio of 2.3 times (previous auction: 6.6 times). The auction closed with the CBN allotting exactly what was offered– N13.11 billion for the 91-Day, N5.10 billion for the 182-Day, and N271.79 billion for the 364-Day papers – at respective stop rates of 15 per cent (previous: 15.74 per cent), 15.5 per cent (previous: 16.20 per cent) and 15.88 per cent (previous: 16.30 per cent),” the report said.

    “We expect the liquid financial system to bolster further bullish sentiments in the Treasury bills secondary market as investors continue repricing yields downwards, aided by shorter supply of instruments”.

    Elsewhere, the FGN bond secondary market was bullish as institutional investors sought to invest their coupons. Accordingly, the average yield for bonds declined by 29bps to 16.3 per cent.

    Across the benchmark curve, the average yield decreased at the short (-35bps), mid (-43bps), and long (-17bps) segments, driven by heightened demand for the APR-2029 (-48bps), APR-2032 (-69bps), and MAR-2036 (-40bps) bonds, respectively.

    “This week, we believe the outcome of the July FGN bond auction, scheduled for Monday (July 28) will shape the direction of yields in the secondary market. At the auction, the DMO is set to offer instruments worth NGN100.00 billion through the re-openings of the APR-2029 bond and JUN-2032 bonds,” they said.

    “Our expectation for the auction is that marginal rates will taper. We reiterate our medium-term expectation of a moderation in bond yields, influenced by two factors – (1) the anticipated dovish monetary policy stance and (2) demand and supply dynamics”.

    In the foreign exchange market, the naira depreciated by 0.4 per cent week-on-week to N1,538.00/$1, as demand pressures emerged, outweighing supply.

    “Notably, CBN intervened this week, selling $81 million to the market. Meanwhile, the gross FX reserves increased for the third straight week by $778.34 million week-on-week to $38.63 billion on July 24.

    “In the forwards market, the naira rates appreciated across the 1-month (+0.2 per cent to N1,576.21/$), 3-month (+0.4 per cent to N1,647.65/$), 6-month (+0.3% to N1,757.35/$) and 1-year (+0.3% to N1,966.40/$) contracts,” they said.

    Analysts expect the naira to remain relatively stable, supported by robust FX liquidity and sustained inflows from both domestic and foreign sources. This positive outlook is anchored on continued market confidence and attractive naira yields.

  • FAAC: Demand accountability from governors, Emami tells Nigerians

    FAAC: Demand accountability from governors, Emami tells Nigerians

    A chieftain of the ruling All Progressives Congress (APC), Chief Ayiri Emami, has urged Nigerians to make their governors account for the huge monthly receipts from the Federation Account Allocation Committee (FAAC).

    Emami was speaking against the backdrop of increasing monthly allocation to the federating units in the country.

    He addressed reporters yesterday in Abuja over the heat being turned on only the Federal Government when the 36 states and the 774 local government areas get more monthly allocations than ever before.

    Emami, who was Deputy Director of the Election Planning and Monitoring Committee of the Presidential Campaign Committee for President Muhammadu Buhari in 2019, urged fellow Nigerians to take more than a passing interest in what the governors do with the enhanced monthly allocation.

    The Delta State-born politician argued that with the removal of petroleum subsidy, the subnational governments have since experienced a surge in their revenue profile, hence the need for Nigerians to demand for accountability from their governors and know what they do with the huge resources.

    “A lot of these governors, I don’t think they are helping the situation. So, that puts a lot of pressure on the Federal Government.

    “If the Federal Government has taken off the subsidy and the money is being paid to the state governments, the states are supposed to look at what the needs of people are in each of the states. But I think the state governors don’t care. So, everybody now focuses on the Federal Government.

    Read Also: FAAC shares highest allocation of N1.818tr in June

    “But I would suggest that the President keep an eye on what is going on in each of the states, since the allocation is being adequately sent back home to the state governments. I don’t think the state governments are doing enough. It’s not by doing bridges and everything you can do, all the bridges and everything on the road.

    “But without welfare, there will be hunger, so how do I ply the road, and that’s exactly what’s going on. Now, everybody will be shouting Tinubu’s name. So, the governors come, they do advertisement, I’ve done this road. I’ve done this thing, they don’t care how people feel. So most of this  blame is supposed to be channeled to the state government.”

  • FAAC pays out highest monthly allocation of N1.8tr

    FAAC pays out highest monthly allocation of N1.8tr

    • LG revenue increases by N1.39trn

    The Federation Account Allocation Committee (FAAC) has shared a total of N1.818 trillion among the federal, state, and local governments as revenue generated in June 2025 — the highest monthly allocation so far this year.

    The amount was disclosed in a communiqué issued after the FAAC meeting held in Abuja for July 2025. The statement, signed by Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF), confirmed that this latest distribution marks a significant rise from the previous five months.

    In comparison, the amount shared in May was N1.659 trillion, while April saw N1.681 trillion. March recorded a distribution of N1.578 trillion, February had N1.678 trillion, and January began the year with N1.703 trillion.

    The N1.818 trillion shared in July was made up of several revenue streams. These included N1.018 trillion from statutory revenue, N631.507 billion from Value Added Tax (VAT), N29.165 billion from the Electronic Money Transfer Levy (EMTL), N38.849 billion from exchange difference revenue, and an augmentation of N100 billion sourced from non-mineral revenue.

    According to the communiqué, total gross revenue available in June 2025 was N4.232 trillion. From this amount, deductions for the cost of collection amounted to N162.786 billion, while a total of N2.251 trillion was earmarked for transfers, interventions, refunds, and savings.

    A breakdown of the gross revenue components revealed that statutory revenue for June stood at N3.485 trillion, a substantial increase of N1.390 trillion compared to the N2.094 trillion received in May. Conversely, gross VAT revenue dropped from N742.820 billion in May to N678.165 billion in June, representing a decline of N64.655 billion.

    From the N1.818 trillion distributable revenue, the Federal Government received N645.383 billion. The state governments received N607.417 billion, while the local government councils got N444.853 billion. Additionally, N120.759 billion was distributed to oil-producing states as 13 percent derivation revenue from mineral sources.

    Within the N1.018 trillion statutory revenue segment, the Federal Government received N474.455 billion. The state governments were allocated N240.650 billion, and the local government councils received N185.531 billion. Oil-producing states got N118.256 billion as part of the 13 percent derivation.

    For the N631.507 billion generated from VAT in June, the Federal Government took N94.726 billion. The state governments received N315.754 billion, while the local governments received N221.027 billion.

    Of the N29.165 billion received from EMTL, the Federal Government was allocated N4.375 billion. The states received N14.582 billion, and the local government councils got N10.208 billion.

    Read Also: FAAC shares highest allocation of N1.818tr in June

    Revenue from the exchange difference amounted to N38.849 billion. From this amount, the Federal Government received N19.147 billion, the states were allocated N9.712 billion, and the local governments got N7.487 billion. A further N2.503 billion was distributed to states entitled to derivation revenue.

    The N100 billion augmentation from non-mineral sources was shared with the Federal Government receiving N52.680 billion. The state governments got N26.720 billion, while local governments were allocated N20.600 billion.

    FAAC also reported that revenue inflows from Companies Income Tax (CIT), Petroleum Profit Tax (PPT), and Electronic Money Transfer Levy increased significantly in June. However, receipts from Oil and Gas Royalty, VAT, Import Duty, Excise Duty, and Common External Tariff (CET) Levies recorded noticeable declines.

    The significant revenue boost in June is expected to provide some fiscal breathing space for governments at all levels as they continue to grapple with funding obligations and development programmes amid broader economic adjustments.

  • FAAC shares highest allocation of N1.818tr in June

    FAAC shares highest allocation of N1.818tr in June

    The Federation Account Allocation Committee (FAAC) has shared N1.818 trillion among the Federal, State, and Local governments as revenue generated in June 2025 — the highest monthly allocation so far this year.

    The amount was disclosed in a communiqué  after the FAAC meeting in Abuja for July 2025. 

    The statement, sby Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF), confirmed that this latest distribution marks a significant rise from the previous five months.

    In comparison, the amount shared in May was N1.659 trillion while April saw N1.681 trillion. March recorded a distribution of N1.578 trillion, February had N1.678 trillion, and January began the year with N1.703 trillion.

    The N1.818 trillion shared in July was made up of several revenue streams. These included N1.018 trillion from statutory revenue, N631.507 billion from Value Added Tax (VAT), N29.165 billion from the Electronic Money Transfer Levy (EMTL), N38.849 billion from exchange difference revenue, and an augmentation of N100 billion sourced from non-mineral revenue.

    According to the communiqué, total gross revenue available in June 2025 was N4.232 trillion. From this amount, deductions for the cost of collection amounted to N162.786 billion, while a total of N2.251 trillion was earmarked for transfers, interventions, refunds, and savings.

    A breakdown of the gross revenue components revealed that statutory revenue for June stood at N3.485 trillion, a substantial increase of N1.390 trillion compared to the N2.094 trillion received in May. Conversely, gross VAT revenue dropped from N742.820 billion in May to N678.165 billion in June, representing a decline of N64.655 billion.

    From the N1.818 trillion distributable revenue, the Federal Government received N645.383 billion. The State Governments received N607.417 billion, while the Local Government Councils got N444.853 billion. Additionally, N120.759 billion was distributed to oil-producing states as 13 percent derivation revenue from mineral sources.

    Within the N1.018 trillion statutory revenue segment, the Federal Government received N474.455 billion. The State Governments were allocated N240.650 billion, and the Local Government Councils received N185.531 billion. Oil-producing states got N118.256 billion as part of the 13 percent derivation.

    For the N631.507 billion generated from VAT in June, the Federal Government took N94.726 billion. The State Governments received N315.754 billion, while the Local Governments received N221.027 billion.

    Of the N29.165 billion received from EMTL, the Federal Government was allocated N4.375 billion. The States received N14.582 billion, and the Local Government Councils got N10.208 billion.

    Revenue from the exchange difference amounted to N38.849 billion. From this amount, the Federal Government received N19.147 billion, the States were allocated N9.712 billion, and the Local Governments got N7.487 billion. A further N2.503 billion was distributed to states entitled to derivation revenue.

    The N100 billion augmentation from non-mineral sources was shared with the Federal Government receiving N52.680 billion. The State Governments got N26.720 billion, while Local Governments were allocated N20.600 billion.

    FAAC also reported that revenue inflows from Companies Income Tax (CIT), Petroleum Profit Tax (PPT), and Electronic Money Transfer Levy increased significantly in June. However, receipts from Oil and Gas Royalty, VAT, Import Duty, Excise Duty, and Common External Tariff (CET) Levies recorded noticeable declines.

    The significant revenue boost in June is expected to provide some fiscal breathing space for governments at all levels as they continue to grapple with funding obligations and development programmes amid broader economic adjustments.

  • FAAC distributes N1.681 trillion April revenue to FG, States, LGs

    FAAC distributes N1.681 trillion April revenue to FG, States, LGs

    The Federation Account Allocation Committee (FAAC) has shared a total of N1.681 trillion as revenue generated in April 2025 to the Federal Government, 36 States, and 774 Local Government Councils across the country.

    This figure, distributed at the FAAC meeting held in Abuja yesterday, reflects an increase of N103 billion compared to the N1.578 trillion shared in March 2025.

    According to the official communiqué issued at the end of the meeting, the total distributable revenue for April 2025 consisted of statutory revenue amounting to N962.882 billion, Value Added Tax (VAT) revenue of N598.077 billion, Electronic Money Transfer Levy (EMTL) revenue of N38.862 billion, and Exchange Difference of N81.407 billion.

    The Federal Government received a total of N565.307 billion from the allocation, while the State Governments collectively received N556.741 billion. The Local Government Councils were allocated N406.627 billion, and an additional N152.553 billion was distributed to oil-producing states as 13 percent derivation from mineral revenue.

    FAAC reported that a gross total revenue of N2.848 trillion was available in the month of April. However, deductions were made amounting to N101.051 billion for cost of revenue collection and N1.066 trillion for statutory transfers, refunds, interventions, and savings.

    The gross statutory revenue for April stood at N2.084 trillion, which represents an increase of N365.595 billion over the N1.718 trillion recorded in March. Similarly, gross VAT revenue rose slightly to N642.265 billion in April, compared to N637.618 billion in the preceding month, reflecting a growth of N4.647 billion.

    Breakdown of the N962.882 billion distributable statutory revenue shows the Federal Government receiving N431.307 billion, States N218.765 billion, and Local Government Councils N168.659 billion. From this amount, N144.151 billion was shared as 13 percent derivation to oil-producing states.

    In terms of VAT, the Federal Government got N89.712 billion, the States received N299.039 billion, and the Local Government Councils received N209.327 billion from the N598.077 billion pool.

    Read Also: FAAC shares N1.578tr March revenue to FG, States, LGAs

    Revenue from the Electronic Money Transfer Levy (EMTL), which totaled N38.862 billion, was distributed with the Federal Government receiving N5.829 billion, States N19.431 billion, and Local Governments N13.602 billion.

    Also, from the N81.407 billion realized as Exchange Difference, the Federal Government received N38.459 billion, the States N19.507 billion, and Local Government Councils N15.039 billion. In addition, N8.402 billion from this category was shared as 13 percent derivation to eligible states.

    FAAC further disclosed that there were significant increases in revenue from Petroleum Profit Tax (PPT), Oil and Gas Royalties, VAT, EMTL, Excise Duty, Import Duty, and CET Levies during the period under review. However, revenue from Companies Income Tax (CIT) recorded a considerable decline.

    The April 2025 revenue performance reflects continued volatility in the federation’s income sources, even as government efforts to improve non-oil revenue generation appear to be yielding positive results.