The Federal Account Allocation Committee, FAAC, has announced that the federal, state and local governments shared about N1.7 trillion in revenue in February 2025.
This was made known in statement on Saturday by Bawa Mokwa, Director of Press and Public Relations, disclosing that total sum of N1.678 trillion was shared in the month under review among the tiers of government.
Mokwa stated that the meeting, which was chaired by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.
The total distributable revenue of N1.678 trillion comprised distributable statutory revenue of N827.633 billion, distributable Value Added Tax (VAT) revenue of N 609.430 billion, Electronic Money Transfer Levy (EMTL) revenue of N35.171 billion, Solid Minerals revenue of N28.218 billion and Augmentation of N178 billion.
According to a communiqué issued by the Federation Account Allocation Committee (FAAC), total gross revenue of N2.344 trillion was available in the month of February 2025.
On the other hand, the total deduction for cost of collection was N89.092 billion while total transfers, interventions, refunds and savings were N577.097 billion.
Gross statutory revenue of N1.653 trillion was received for the month of February 2025. This was lower than the sum of N1.848 trillion received in the month of January 2025 by N194.664 billion.
Gross revenue of N654.456 billion was available from the Value Added Tax (VAT) in February 2025. This was lower than the N771.886 billion available in the month of January 2025 by N117.430 billion.
The communiqué stated that from the total distributable revenue of N1.678 trillion, the Federal Government received a total sum of N569.656 billion and the State Government received a total sum of N562.195 billion.
The Local Government Councils received a total sum of N410.559 billion and a total sum of N136.042 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
On the N827.633 billion distributable statutory revenue, the communiqué stated that the Federal Government received N366.262 billion and the State Governments received N185.773 billion
The Local Government Councils received N143.223 billion and the sum of N132.374 billion, 13% of mineral revenue was shared among benefiting states as derivation revenue.
From the N609.430 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N91.415 billion, the State Governments received N304.715 billion and the Local Government Councils received N213.301 billion.
A total sum of N5.276 billion was received by the Federal Government from the N35.171 billion Electronic Money Transfer Levy (EMTL). The State Governments received N17.585 billion and the Local Government Councils received N12.310 billion.
From the N28.218 billion Solid Minerals revenue, the Federal Government received N12.933 billion and the State Governments received N6.560 billion.
The Local Government Councils received N5.057 billion and a total sum of N3.668 billion, 13% of mineral revenue, was shared to the benefiting States as derivation revenue.
The Augmentation of N178 billion was shared as follows: the Federal Government received N93.770 billion, the State Governments received N47.562 billion and the Local Government Councils received N36.668 billion.
In February 2025, Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL), increased significantly while Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty and CET Levies recorded decreases.
Nigerian govt, states, LGs shared N1.7tn revenue in February – FAAC reports
