FG, States, LGs Share ₦1.659trn May Revenue, Says FAAC
The Federation Account Allocation Committee (FAAC) has announced the disbursement of a total sum of ₦1.659 trillion to the federal, state, and local governments as revenue generated in May 2025.
The allocation was made during the FAAC meeting held in Abuja and was confirmed through a communiqué issued at the end of the session. According to the committee, the total distributable revenue comprised ₦863.895 billion from statutory revenue, ₦691.714 billion from Value Added Tax (VAT), ₦27.667 billion from the Electronic Money Transfer Levy (EMTL), and ₦76.614 billion from Exchange Difference.
From the total revenue, the Federal Government received ₦538.004 billion, state governments got ₦577.841 billion, and local government councils were allocated ₦419.968 billion. Oil-producing states also received an additional ₦124.076 billion as 13% derivation revenue.
A further breakdown showed that from the statutory revenue of ₦863.895 billion, the Federal Government received ₦393.518 billion, the states ₦199.598 billion, and the local governments ₦153.881 billion, while ₦116.898 billion was shared as derivation revenue.
From the VAT revenue of ₦691.714 billion, the Federal Government received ₦103.757 billion, state governments received ₦345.857 billion, and local governments got ₦242.100 billion. The EMTL revenue of ₦27.667 billion was shared with the Federal Government receiving ₦4.150 billion, the states ₦13.833 billion, and local governments ₦9.683 billion.
Out of the ₦76.614 billion realized from Exchange Difference, ₦36.579 billion went to the Federal Government, ₦18.553 billion to the states, ₦14.304 billion to local governments, while ₦7.178 billion was shared as derivation revenue.
FAAC reported that the gross revenue for May 2025 stood at ₦2.942 trillion. From this, deductions were made, including ₦111.908 billion as the cost of collection and ₦1.171 trillion for transfers, refunds, and other statutory deductions, leaving ₦1.659 trillion for distribution.
The committee noted that while gross statutory revenue increased slightly from ₦2.084 trillion in April to ₦2.094 trillion in May, VAT collections saw a substantial rise from ₦549.698 billion to ₦1.010 trillion within the same period.
The increase in revenue was attributed to improved performance in Companies Income Tax, VAT, and Import Duty. However, FAAC noted declines in Petroleum Profit Tax, oil and gas royalties, CET Levy, and EMTL, with Excise Duty showing marginal growth.
