By: Lauretta Fagbohun, Abeokuta.
The Federation Account Allocation Committee (FAAC) has distributed a total of ₦1.578 trillion among the Federal Government, state governments, and local government councils as revenue generated for March 2025.
This was disclosed in a communiqué issued after the April 2025 FAAC meeting held in Abuja. The statement, released by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation, provided a breakdown of the shared revenue.
According to the document, the total distributable revenue of ₦1.578 trillion comprised:
Statutory revenue: ₦931.325 billion
Value Added Tax (VAT): ₦593.750 billion
Electronic Money Transfer Levy (EMTL): ₦24.971 billion
Exchange Difference revenue: ₦28.711 billion
The gross revenue available for March stood at ₦2.411 trillion. From this, ₦85.376 billion was deducted for the cost of collection, while ₦747.180 billion was allocated for transfers, interventions, and refunds.
Disbursement Breakdown:
From the ₦1.578 trillion shared:
The Federal Government received ₦528.696 billion
State Governments received ₦530.448 billion
Local Government Councils received ₦387.002 billion
Additionally, ₦132.611 billion was disbursed as 13% derivation revenue to oil-producing states
Further breakdown of components:
From the ₦931.325 billion statutory revenue:
FG: ₦422.485 billion
States: ₦214.290 billion
LGs: ₦165.209 billion
Derivation (13%): ₦129.341 billion
From the ₦593.750 billion VAT revenue:
FG: ₦89.063 billion
States: ₦296.875 billion
LGs: ₦207.813 billion
From the ₦24.971 billion EMTL:
FG: ₦3.746 billion
States: ₦12.485 billion
LGs: ₦8.740 billion
From the ₦28.711 billion Exchange Difference revenue:
FG: ₦13.402 billion
States: ₦6.798 billion
LGs: ₦5.241 billion
Derivation (13%): ₦3.270 billion
The communiqué noted an increase in gross statutory revenue for March (₦1.718 trillion), up by ₦65.422 billion from February’s ₦1.653 trillion. However, VAT revenue dropped slightly from ₦654.456 billion in February to ₦637.618 billion in March—a decline of ₦16.838 billion.
FAAC reported that while Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) saw significant growth, there were declines in revenues from Oil and Gas Royalties, VAT, EMTL, Excise Duty, Import Duty, and CET levies.
