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NIGERIA: FG, States and LGs Share N2trn Revenue for July – FAAC

Business

By Ameenat Hamzat, Lagos, Nigeria

The Federation Account Allocation Committee (FAAC) has distributed a total of N2.001 trillion to the federal, state and local governments as revenue for July 2025.

According to a communiqué issued after FAAC’s meeting in Abuja on Friday, the allocation comprised N1.282 trillion statutory revenue, N640.61 billion Value Added Tax (VAT), N37.6 billion from the Electronic Money Transfer Levy (EMTL) and N39.7 billion as exchange difference.

FAAC disclosed that July’s gross revenue stood at N3.836 trillion, from which N152.68 billion was deducted as collection costs, while N1.683 trillion went to transfers, interventions, refunds and savings.

Although statutory revenue dropped to N3.07 trillion from June’s N3.485 trillion, VAT collections increased slightly to N687.94 billion, about N9.77 billion higher than the previous month.

The communique further highlighted the breakdown of the revenue, noting that from the total distributable N2.001 trillion, the federal government received N735.08 billion, states shared N660.35 billion, the local governments got N485.04 billion while oil-producing states earned N120.36 billion as 13% derivation.

From the N1.282 trillion statutory revenue, the FG also got N613.81 billion, the states N311.33 billion, the LGs N240.02 billion, and derivation N117.71 billion.

From the N640.61 billion VAT pool, the FG received N96.09 billion, the states received N320.31 billion, and LGs received N224.21 billion.

The N37.6 billion EMTL was shared with FG taking N5.64 billion, states N18.80 billion, and LGs N13.16 billion. From the N39.7 billion exchange difference, the FG got N19.54 billion, the states got N9.91 billion, the LGs got N7.64 billion, and the derivation got N2.64 billion.

FAAC also reported notable increases in Petroleum Profit Tax (PPT), oil and gas royalties, EMTL, and excise duties. However, Companies Income Tax (CIT) and CET levies recorded declines, while VAT and import duties experienced marginal growth.