The Federation Account Allocation Committee (FAAC) reported on Tuesday that it shared N1.578 trillion to the Federal Government, states and local governments being distributable March 2025 federation account revenue.
The Committee stated in the communiqué issued that the revenue was shared to the tiers of government at its the April 2025 meeting held in Abuja. .
It disclosed that the total distributable revenue of N1.578 trillion comprised distributable statutory revenue of N931.325 billion, distributable Value Added Tax (VAT) revenue of N 593.750 billion, Electronic Money Transfer Levy (EMTL) revenue of N24.971 billion and Exchange Difference revenue of N28.711 billion.
According to a communiqué, total gross revenue of N2.411 trillion was available in March this year for sharing to the tiers of government, as total deduction for cost of collection was N85.376 billion while total transfers, interventions and refunds was N747.180 billion.
- Advertisement -
The communiqué showed that gross statutory revenue of N1.718 trillion was collected during the month, representing N65.422 billion higher than the N1.653 trillion that was collected in the preceding month.
According to FAAC, gross revenue of N637.618 billion was available from the Value Added Tax (VAT) in March 2025, lower than the N654.456 billion available in the month of February 2025 by N16.838 billion.
The communiqué indicated that from the total distributable revenue of N1.578 trillion, the Federal Government received N528.696 billion, the state governments received total sum of N530.448 billion while the local governments Councils got N387.002 billion and N132.611 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
During the month under review, out of the N931.325 billion distributable statutory revenue, the communiqué stated that the Federal Government got N422.485, the state governments received N214.290 billion, and the local governments shared N165.209 billion. The sum of N129.341 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
Out of the N593.750 billion distributable Value Added Tax (VAT) revenue, the Federal Government got N89.063 billion, the state governments received N296.875 billion and the local governments shared N207.813 billion.
The Federal Government got a total sum of N3.746 billion from the N24.971 billion Electronic Money Transfer Levy (EMTL) while the state and local governments received N12.485 billion and N8.740 billion respectively.
Similarly, from the N28.711 billion Exchange Difference revenue, the Federal Government received N13.402 billion, the state governments received N6.798 billion compared to the N5.241 billion allocated to the local governments while N3.270 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
In the month under review, Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased considerably while Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), Value Added Tax (VAT), Excise Duty, Import Duty and CET Levies recorded decreases.
