By Correspondent in Abuja.
The Federation Account Allocation Committee (FAAC) has distributed a total of N1.659 trillion in revenue generated in May 2025 to the federal government, 36 states, and 774 local government councils across the country.
This was disclosed in a communiqué issued by Bawa Mokwa, Director of Press and Public Relations at the Federal Ministry of Finance, following the June 2025 FAAC meeting held in Abuja on Wednesday.
According to the communiqué, the total distributable revenue comprised:
Statutory Revenue: N863.895 billion
Value Added Tax (VAT): N691.714 billion
Electronic Money Transfer Levy (EMTL): N27.667 billion
Exchange Difference: N76.614 billion
Gross revenue available in May stood at N2.942 trillion, while N111.908 billion was deducted as the cost of collection. A total of N1.171 trillion was earmarked for transfers, interventions, and refunds.
The gross statutory revenue of N2.094 trillion recorded in May was N10.023 billion higher than the N2.084 trillion generated in April 2025. Similarly, VAT revenue increased to N742.820 billion in May, up by N100.555 billion from N642.265 billion in April.
Revenue Breakdown:
From the N1.659 trillion total distributable revenue:
Federal Government: N538.004 billion
State Governments: N577.841 billion
Local Government Councils: N419.968 billion
Derivation to Oil-Producing States (13% of mineral revenue): N124.076 billion
Statutory Revenue (N863.895 billion):
FG: N393.518 billion
States: N199.598 billion
LGs: N153.881 billion
Derivation: N116.898 billion
VAT Revenue (N691.714 billion):
FG: N103.757 billion
States: N345.857 billion
LGs: N242.100 billion
EMTL Revenue (N27.667 billion):
FG: N4.150 billion
States: N13.833 billion
LGs: N9.683 billion
Exchange Difference (N76.614 billion):
FG: N36.579 billion
States: N18.553 billion
LGs: N14.304 billion
Derivation: N7.178 billion
The communiqué further noted that Companies Income Tax (CIT), VAT, and Import Duty witnessed significant increases during the month, while Common External Tariff (CET) levies, Petroleum Profit Tax (PPT), Oil and Gas Royalties, and EMTL experienced declines. Excise Duty rose marginally.
Edited by Dada Ahmed.
