By Barth Ikiebe in Abuja.
The Federation Account Allocation Committee (FAAC) has shared N2.001 trillion to the Federal Government, States, and the Local Government Councils as the July 2025 Federation Account Revenue.
The revenue was shared at the August 2025 FAAC meeting held in Abuja.
The N2.001 trillion total distributable revenue comprised distributable statutory revenue of N1,282.872 trillion, distributable Value Added Tax (VAT) revenue of N640.610 billion, Electronic Money Transfer Levy (EMTL) revenue of N37.601 billion, and Exchange Difference N39.745 billion.
A statement by the FAAC on Friday, August 22, disclosed that gross revenue of N3,836.980 trillion was available in the month of July 2025.
The FAAC stated that the total deduction for cost of collection was N152,681 billion, while total transfers, interventions, refunds and savings was N1,683.471 trillion.
It noted that gross statutory revenue of N3,070.127 trillion was received in July 2025, saying this was lower than the sum of N3,485.235 trillion received in June 2025 by N415.108 billion.
According to the FAAC, gross revenue of N687.940 billion was available from the VAT in July 2025, noting that this was higher than the N678.165 billion available in the month of June 2025 by N9.775 billion.
The committee stated that from the N2,000.828 trillion distributable revenue, thefederal governmentt received the sum of N735.081 billion, and the State Governments received N660.349 billion.
The Local Government Councils received N485.039 billion, while the sum of N120.359 billion (13% of mineral revenue) was shared to the benefiting state as derivation revenue.
On the N1,282.872 trillion distributable statutory revenue, the FAAC stated that the federal government received N613.805 billion, and the State Governments received N311.330 billion.
The Local Government Councils received N240.023 billion, N117.714 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
From the N640.610 billion distributable VAT revenue, the Federal Government received N96.092 billion, the State Governments received N320.305 billion, and the Local Government Councils received N224.214 billion.
A total sum of N5.640 billion was received by the Federal Government from the N37.601 billion, the State Governments received N18.801 billion, and the Local Government Councils received N13.160 billion.
From the N39.745 billion Exchange Difference, the FAAC said the Federal Government received N19.544 billion, and the State Governments received N9.913 billion.
The Local Government Councils received N7.643 billion, while the sum of N2.643 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
In July 2025, Petroleum Profit Tax (PPT), Oil and Gas Royalty, EMTL, and Excise Duty increased significantly, while VAT and import Duty increased marginally.
The FAAC added that Companies Income Tax (CIT) and CET levies recorded decreased.
