FG, States, LGs Share N2.001trn July Revenue at FAAC Meeting

|By Adejumo Adekunle

The Federation Account Allocation Committee (FAAC) has disbursed N2.001 trillion among the three tiers of government—federal, state, and local councils—for July 2025.

The allocation was finalized at FAAC’s August meeting in Abuja, where a communiqué revealed the distribution breakdown. The distributable revenue comprised N1.283 trillion statutory revenue, N640.61 billion Value Added Tax (VAT), N37.6 billion from Electronic Money Transfer Levy (EMTL), and N39.7 billion exchange difference.

From the shared pool, the Federal Government received N735.08 billion, while states collected N660.35 billion. Local government councils got N485.04 billion, and N120.36 billion went to oil-producing states as 13% derivation.

The communiqué noted that gross statutory revenue for July stood at N3.07 trillion, a drop of N415.11 billion compared to June’s N3.49 trillion. Conversely, VAT revenue in July rose slightly to N687.94 billion, up by N9.78 billion from June.

Breakdown of distributions showed the Federal Government collected N613.81 billion from statutory revenue, N96.09 billion from VAT, N5.64 billion from EMTL, and N19.54 billion from exchange difference. States received N311.33 billion from statutory allocation, N320.31 billion from VAT, N18.80 billion from EMTL, and N9.91 billion from exchange difference. Local councils got N240.02 billion from statutory revenue, N224.21 billion from VAT, N13.16 billion from EMTL, and N7.64 billion from exchange difference.

The report added that Petroleum Profit Tax (PPT), Oil and Gas Royalty, EMTL, and Excise Duty rose significantly, while VAT and import duty recorded marginal increases. However, Companies Income Tax (CIT) and CET levies declined.