By: Goodluck E. Adubazi, Abuja.
FAAC has, in a statement, said it has disbursed a whopping sum of N2.001 Trillion to the G-N735.081 billion, STATES-N660.349 billion, LGCs-N485.039 billion AS SHARES OF JULY 2025 Revenue, the highest ever in the history of the federation’s account revenue sharing.
As contained in the statement, a total sum of N2.001 trillion, being the July 2025 Federation Account Revenue, has been shared to the Federal Government, States, and the Local Government Councils.
The revenue was shared at the August 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The N2.001 trillion total distributable revenue comprised distributable statutory revenue of N1,282.872 trillion, distributable Value Added Tax (VAT) revenue of N640.610 billion, Electronic Money Transfer Levy (EMTL) revenue of N37.601 billion, and Exchange Difference N39.745 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that the total gross revenue of N3.836.980 trillion was available in the month of July 2025. Total deduction for cost of collection was N152,681 billion while total transfers, interventions, refunds, and savings were N1.683.471 trillion.
According to the communiqué, gross statutory revenue of N3.070.127 trillion was received for the month of July 2025. This was lower than the sum of N3.485.235 trillion received in the month of June 2025 by N415.108 billion.
Gross revenue of N687.940 billion was available from the Value Added Tax (VAT) in July 2025. This was higher than the N678.165 billion available in the month of June 2025 by N9.775 billion.
The communiqué stated that from the N2,000.828 trillion total distributable revenue, the Federal Government received a total sum of N735.081 billion and the State Governments received a total sum of N660.349 billion.
The Local government Council received N485.039 billion, while the sum of N120.359 billion (13% of mineral revenue) was shared with the benefiting State as derivation revenue.
In July 2025, Petroleum Profit Tax (PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), and Excise Duty increased significantly while Value Added Tax (VAT)and import Duty increased marginally.
Companies’ Income Tax (CIT) and CET Levies recorded decreases.