The Federation Account Allocation Committee (FAAC) disclosed on Wednesday that a total sum of N1.659 trillion, being May 2025 Federation Account Revenue, was shared to the three tiers of government.
A statement issued by the Director (Press and Public Relations) Department of the Office of the Accountant General of the Federation (OAGF), Bawa Mokwa, on the distribution of the revenue to the federal, state and local governments indicated that the revenue was shared at the June 2025 committee’s meeting held in Abuja.
According to him, the N1.659 trillion total distributable revenue comprised statutory revenue of N863.895 billion, 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 communiqué issued by the FAAC at the end of its meeting showed that total gross revenue of N2.942 trillion was available in the month of May 2025. Total deduction for cost of collection was N111.908 billion while total transfers, interventions and refunds stood at N1.171 trillion.
- Advertisement -
According to the communiqué, gross statutory revenue of N2.094 trillion was received for the month of May 2025. This was higher than the sum of N2.084 trillion received in the month of April 2025 by N10.023 billion.
The committee further clarified that gross revenue of N742.820 billion was generated from Value Added Tax (VAT) in May, representing N100.555 billion increase over the N642.265 billion that was raked in from the revenue source in the preceding month.
The FAAC maintained that from the N1.659 trillion total distributable revenue, the Federal Government received total sum of N538.004 billion and the State Governments received total sum of N577.841 billion compared to the local governments that got N419.968 billion, while the sum of N124.076 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
On the N863.895 billion distributable statutory revenue, the communiqué stated that the Federal Government received N393.518 billion, the state governments received N199.598 billion and the local governments received N153.881 billion. The sum of N116.898 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
Out of the N691.714 billion distributable Value Added Tax (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.
During the month, N4.150 billion was received by the Federal Government from the N27.667 billion Electronic Money Transfer Levy (EMTL) compared to the state governments that got N13.833 billion and the local governments that shared N9.683 billion.
From the N76.614 billion Exchange Difference revenue, the Federal Government got N36.579 billion, the states received N18.553 billion while local governments received N14.304 billion, The sum of N7.178 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.
In May 2025, Companies Income Tax (CIT), Value Added Tax (VAT) and Import Duty increased and Excise Duty marginally increased, CET Levies, Petroleum Profit Tax (PPT), Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) revenues dropped.
