Abuja, Nigeria – The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.703 trillion as January 2025 Federation Account revenue among the Federal Government, state governments, and local government councils.
The revenue was distributed at the February 2025 FAAC meeting held in Abuja, according to a statement issued by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation.
Breakdown of the Revenue
The ₦1.703 trillion total revenue comprised:
- Statutory revenue: ₦749.727 billion
- Value Added Tax (VAT) revenue: ₦718.781 billion
- Electronic Money Transfer Levy (EMTL): ₦20.548 billion
- Augmentation: ₦214 billion
A communiqué released after the FAAC meeting indicated that the gross revenue available for January 2025 stood at ₦2.641 trillion. However, deductions were made for the cost of collection (₦107.786 billion), transfers, interventions, and refunds (₦830.663 billion).
Comparative Revenue Analysis
According to the FAAC communiqué, gross statutory revenue for January 2025 was ₦1.848 trillion, marking an increase of ₦622.125 billion compared to the ₦1.226 trillion received in December 2024.
Similarly, VAT revenue for January 2025 stood at ₦771.886 billion, which was ₦122.325 billion higher than the ₦649.561 billion recorded in December 2024.
Distribution of the ₦1.703 Trillion Revenue
From the total distributable revenue:
- Federal Government received: ₦552.591 billion
- State governments received: ₦590.614 billion
- Local government councils received: ₦434.567 billion
- 13% mineral revenue derivation for oil-producing states: ₦125.284 billion
- Further Breakdown of Revenue Allocation
- Statutory Revenue (₦749.727 billion)
- Federal Government: ₦343.612 billion
- State Governments: ₦174.285 billion
- Local Government Councils: ₦134.366 billion
- 13% mineral revenue derivation: ₦97.464 billion
- Value Added Tax (VAT) Revenue (₦718.781 billion)
- Federal Government: ₦107.817 billion
- State Governments: ₦359.391 billion
- Local Government Councils: ₦251.573 billion
- Electronic Money Transfer Levy (EMTL) (₦20.548 billion)
- Federal Government: ₦3.082 billion
- State Governments: ₦7.192 billion
- Local Government Councils: ₦10.274 billion
- Augmentation (₦214 billion)
- Federal Government: ₦98.080 billion
- State Governments: ₦49.747 billion
- Local Government Councils: ₦38.353 billion
- 13% mineral revenue derivation: ₦27.820 billion
Revenue Performance
FAAC reported that revenue from VAT, Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies recorded significant increases in January 2025. However, revenue from Electronic Money Transfer Levy (EMTL) and Oil and Gas Royalty experienced a decline.
The FAAC revenue allocation is a crucial financial mechanism ensuring equitable distribution of federally collected revenue to all levels of government, supporting development projects and governance across Nigeria.
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