By Correspondent in Abuja.
The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.818 trillion as revenue for June 2025 to the Federal Government, State Governments, and Local Government Councils.
This was disclosed by the Office of the Accountant General of the Federation, which stated that the allocation represents the Federation Account revenue for the month of June. The revenue was shared at the FAAC meeting held on Friday, July 2025, in Abuja.
According to the breakdown, gross statutory revenue stood at N3.485 trillion in June, reflecting a sharp increase of N1.390 trillion compared to the N2.094 trillion recorded in May 2025.
However, Value Added Tax (VAT) revenue declined by N64.655 billion, dropping from N742.820 billion in May to N678.165 billion in June.
A communique issued at the end of the meeting revealed significant increases in Companies Income Tax (CIT), Petroleum Profit Tax (PPT), and Electronic Money Transfer Levy (EMTL).
Conversely, the report highlighted notable declines in revenue from Oil and Gas Royalties, VAT, Import Duty, Excise Duty, and Common External Tariff (CET) Levies.
Edited by Dada Ahmed.
