FGN, States, LGs Share N2.001 Trillion July Revenue
Oru Leonard
The Federation Account Allocation Committee (FAAC), in Nigeria has distributed a total sum of N2.001 trillion to the three tiers of government as Federation Allocation for July 2025. This allocation comes from a gross total of N3.836 trillion, comprising Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference.
Breakdown of Allocation is as follows:
– Federal Government: N735.081 billion
– States: N660.349 billion
– Local Government Councils: N485.039 billion
– Oil Producing States: N120.359 billion as Derivation (13% of Mineral Revenue)
Revenue Details
– Gross Statutory Revenue: N3.070 trillion, lower than the previous month’s N3.485 trillion by N415.108 billion
– Value Added Tax (VAT): N687.940 billion, with N640.610 billion distributed to the three tiers of government
– Federal Government: N96.092 billion
– States: N320.305 billion
– Local Government Councils: N224.214 billion
– Electronic Money Transfer Levy (EMTL): N39.168 billion distributed
– Federal Government: N5.640 billion
– States: N18.801 billion
– Local Government Councils: N13.160 billion
Petroleum Profit Tax (PPT), Excise Duty, EMTL, and Oil and Gas Royalty increased significantly
Value Added Tax (VAT) and Import Duty increased marginally
Company Income Tax (CIT) and CET Levies recorded decreases.
Ealier, in his opening remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, commended the FAAC Committee for their diligent efforts in ensuring the effective allocation of resources to the various tiers of government.
He noted that the economic reforms embarked upon by the Federal Government are yielding positive results and that our collective efforts will continue to drive growth and development.
The Minister assured that better days are ahead and expressed optimism about the future of our economy. As we continue to work together, I urge us to prioritize prudent management of public resources, ensuring that our nation’s wealth is utilized effectively to meet the needs of our citizens, Edun emphasized
(FMOF Press)
