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FG, States, LGs Share ₦1.659trn May Revenue — FAAC

The Federation Account Allocation Committee (FAAC) has disbursed a total sum of ₦1.659 trillion as revenue generated in May 2025 to the Federal Government, state, and local government councils.The disbursement followed the FAAC meeting held in Abuja for the month of June 2025.A communiqué issued at the end of the meeting indicated that the total distributable revenue comprised ₦863.895 billion from statutory sources, ₦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.Out of the ₦1.659 trillion shared, the Federal Government received ₦538.004 billion, states received ₦577.841 billion, and local government councils got ₦419.968 billion. Additionally, ₦124.076 billion, representing 13% of mineral revenue, was distributed to oil-producing states as derivation revenue.Providing further breakdowns, the communiqué noted that from the statutory revenue of ₦863.895 billion, the Federal Government received ₦393.518 billion, states received ₦199.598 billion, and local governments received ₦153.881 billion. Another ₦116.898 billion from this amount was shared with oil-producing states as derivation revenue.From the ₦691.714 billion VAT revenue, the Federal Government received ₦103.757 billion, while the states and local governments got ₦345.857 billion and ₦242.100 billion respectively.For the EMTL revenue of ₦27.667 billion, the Federal Government received ₦4.150 billion, the states received ₦13.833 billion, and the local councils got ₦9.683 billion.The FAAC communiqué also revealed that from the Exchange Difference revenue of ₦76.614 billion, the Federal Government received ₦36.579 billion, the states received ₦18.553 billion, and the local government councils got ₦14.304 billion. A further ₦7.178 billion was allocated to oil-producing states as 13% derivation.Gross revenue available in May stood at ₦2.942 trillion, with ₦111.908 billion deducted for cost of collection, and ₦1.171 trillion allocated for transfers, interventions, and refunds.The statement, signed by the Director of Press and Public Relations at the Office of the Accountant General of the Federation, Bawa Mokwa, highlighted that gross statutory revenue in May was ₦2.094 trillion — an increase of ₦10.023 billion from the ₦2.084 trillion recorded in April.Similarly, VAT revenue rose to ₦742.820 billion in May from ₦642.265 billion in April, marking an increase of ₦100.555 billion.“Companies Income Tax (CIT), Value Added Tax (VAT), and Import Duty recorded significant increases in May, while CET levies, Petroleum Profit Tax (PPT), Oil and Gas Royalties, and the EMTL declined. Excise Duty showed a marginal increase,” the communiqué added.www.twitter.com/spyetv