Abuja, Nigeria – The Federal Government, states, and local governments have shared a total of ₦1.678 trillion in revenue for February 2025, according to the Federation Account Allocation Committee (FAAC).
The allocation was finalized during the FAAC meeting held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
A statement from FAAC, issued by the Director of Press and Public Relations, Bawa Mokwa, confirmed that the distributed revenue comprised several components, including ₦827.633 billion from statutory allocations, ₦609.430 billion from Value Added Tax (VAT), ₦35.171 billion from the Electronic Money Transfer Levy (EMTL), ₦28.218 billion from solid minerals revenue, and an additional augmentation of ₦178 billion.
Breakdown of February 2025 FAAC Allocation
From the total ₦1.678 trillion distributed:
The Federal Government received ₦569.656 billion
State Governments received ₦562.195 billion
Local Government Councils received ₦410.559 billion
₦136.042 billion (13% of mineral revenue) was allocated to oil-producing states as derivation revenue
Revenue Components and Federal Allocation
Statutory Revenue (₦827.633 billion)
Federal Government: ₦366.262 billion
State Governments: ₦185.773 billion
Local Governments: ₦143.223 billion
Oil-producing states received ₦132.374 billion as 13% derivation revenue
Value Added Tax (VAT) Revenue (₦609.430 billion)
Federal Government: ₦91.415 billion
State Governments: ₦304.715 billion
Local Governments: ₦213.301 billion
Electronic Money Transfer Levy (₦35.171 billion)
Federal Government: ₦5.276 billion
State Governments: ₦17.585 billion
Local Governments: ₦12.310 billion
Solid Minerals Revenue (₦28.218 billion)
Federal Government: ₦12.933 billion
State Governments: ₦6.560 billion
Local Governments: ₦5.057 billion
Oil-producing states received ₦3.668 billion as 13% derivation revenue
Augmentation (₦178 billion)
Federal Government: ₦93.770 billion
State Governments: ₦47.562 billion
Local Governments: ₦36.668 billion
Decline in Gross Revenue
According to the FAAC communiqué, gross revenue for February 2025 totaled ₦2.344 trillion, which marked a decline compared to January 2025. Statutory revenue dropped from ₦1.848 trillion in January to ₦1.653 trillion in February, reflecting a ₦194.664 billion decrease. Similarly, VAT revenue declined from ₦771.886 billion in January to ₦654.456 billion in February, a difference of ₦117.430 billion.
Revenue Performance
FAAC reported an increase in Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL). However, key revenue streams such as Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies recorded declines.
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