|By Adejumo Adekunle-
-FAAC Shares Over N1.6 Trillion Among FG, States and LGs for May 2025
– Revenue Surges with Notable Growth in VAT, Import Duty, and Company Income Tax
The Federation Account Allocation Committee (FAAC) has distributed a total sum of ₦1.659 trillion as revenue for the month of May 2025 among the Federal Government, states, and local government councils.
This was disclosed in a communiqué issued after the FAAC meeting held in Abuja on Wednesday and signed by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation.
According to the communiqué, the total distributable revenue for May includes:
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₦863.895 billion from statutory revenue
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₦691.714 billion from Value Added Tax (VAT)
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₦27.667 billion from Electronic Money Transfer Levy
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₦76.614 billion from Exchange Difference revenue
The gross revenue available in May stood at ₦2.942 trillion, reflecting a ₦10.023 billion increase compared to the ₦2.084 trillion recorded in April 2025.
The committee reported that ₦111.908 billion was deducted as the cost of collection, while ₦1.171 trillion was set aside for transfers, interventions, and refunds.
Breakdown of Allocation
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Federal Government: ₦538.004 billion
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State Governments: ₦577.841 billion
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Local Government Councils: ₦419.968 billion
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13% Derivation Revenue to Oil-Producing States: ₦124.076 billion
From the ₦863.895 billion statutory revenue:
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FG received ₦393.518 billion
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States received ₦199.598 billion
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LGs received ₦153.881 billion
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Oil-producing states got ₦116.898 billion as 13% derivation
From the ₦691.714 billion VAT revenue:
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FG received ₦103.757 billion
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States got ₦345.857 billion
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LGs received ₦242.100 billion
From the ₦27.667 billion Electronic Money Transfer Levy:
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FG received ₦4.150 billion
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States received ₦13.833 billion
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LGs got ₦9.683 billion
From the ₦76.614 billion Exchange Difference revenue:
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FG received ₦36.579 billion
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States received ₦18.553 billion
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LGs got ₦14.304 billion
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₦7.178 billion was distributed to oil-producing states as derivation
Sector Performance Overview
The communiqué highlighted a significant increase in revenue from:
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Companies Income Tax (CIT)
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Value Added Tax (VAT)
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Import Duty
However, it noted a decline in:
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Petroleum Profit Tax (PPT)
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Oil and Gas Royalty
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CET Levies
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Electronic Money Transfer Levy
Meanwhile, excise duty experienced a marginal increase.
