FG, States, LGs Share N1.659trn as May Revenue – FAAC
The Federal Government, states, and local government councils have shared a total of N1.659 trillion as revenue allocation for May 2025. This was disclosed in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting held in Abuja on June 18, 2025.
The meeting, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, considered the gross total revenue of N2.942 trillion, which included statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange difference.
According to the statement signed by Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, the Federal Government received N538.004 billion, the states received N577.841 billion, and local government councils got N419.968 billion. Oil-producing states received an additional N124.076 billion as 13 percent derivation from mineral revenues.
The statement noted that VAT revenue for May rose to N742.820 billion, up from N642.265 billion in April, marking an increase of N100.555 billion. After deductions for collection costs and transfers, N691.714 billion was distributed to the three tiers of government. Of this, the Federal Government received N103.757 billion, the states got N345.857 billion, and the local governments received N242.100 billion.
Gross statutory revenue stood at N2.094 trillion, slightly higher than the N2.084 trillion recorded in the previous month. From this, N863.895 billion was distributed after deductions, with the Federal Government taking N393.518 billion, the states N199.598 billion, local councils N153.881 billion, and oil-producing states receiving N116.898 billion.
Revenue from the Electronic Money Transfer Levy (EMTL) totaled N28.820 billion, while the Exchange Difference accounted for N76.614 billion, also shared among the three tiers of government.
The statement also highlighted that Companies Income Tax (CIT), VAT, and Import Duty all recorded significant increases. However, revenues from Petroleum Profit Tax (PPT), CET levies, Oil and Gas Royalties, and EMTL saw declines. Excise duty rose only marginally.
In his opening remarks, the Minister of Finance, Mr. Wale Edun, emphasized the importance of transparency, accountability, and prudent fiscal management in the allocation of public revenues. He praised the cooperation and dedication of FAAC members in advancing the economic growth and stability objectives of the government.
The total distributable revenue for May 2025 was pooled from statutory revenue, VAT, EMTL, and exchange difference, culminating in a net amount of N1.659 trillion shared among the three tiers of government.
ENDS
