FAAC: FG, States, LGs share N2trn July revenue

Barbara Bako, Abuja.

The Federation Account Allocation Committee (FAAC) has shared a total of N2.001 trillion as federation revenue for July 2025 among the Federal Government, States, and Local Government Councils.

The allocation was made at FAAC’s August 2025 meeting in Abuja.

A communiqué issued after the meeting showed that the distributable revenue comprised N1.283 trillion statutory revenue, N640.61 billion Value Added Tax (VAT), N37.6 billion from the Electronic Money Transfer Levy (EMTL), and N39.75 billion from Exchange Difference.

From the total amount, the Federal Government received N735.08 billion, States got N660.35 billion, and Local Governments received N485.04 billion. Benefiting oil-producing states received N120.36 billion as 13% derivation.

Breakdown of the distributable statutory revenue showed that the Federal Government received N613.81 billion, States N311.33 billion, Local Governments N240.02 billion, while N117.71 billion was shared as derivation revenue.

From the N640.61 billion VAT revenue, the Federal Government received N96.09 billion, States N320.31 billion, and Local Governments N224.21 billion.

On the N37.60 billion EMTL, the Federal Government received N5.64 billion, States N18.80 billion, and Local Governments N13.16 billion.

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From the N39.75 billion Exchange Difference, the Federal Government got N19.54 billion, States N9.91 billion, Local Governments N7.64 billion, while N2.64 billion went to oil-producing states as derivation.

FAAC reported that gross revenue available in July stood at N3.84 trillion, out of which deductions for collection cost amounted to N152.68 billion, while N1.68 trillion was set aside for transfers, interventions, refunds, and savings.

The communiqué also noted that gross statutory revenue for July was N3.07 trillion, lower than the N3.49 trillion recorded in June by N415.11 billion. VAT revenue, however, rose to N687.94 billion, compared to N678.17 billion in June.

According to FAAC, July saw significant increases in Petroleum Profit Tax, Oil and Gas Royalty, EMTL, and Excise Duty, while VAT and Import Duty recorded marginal growth. Companies Income Tax and CET Levies declined during the month.