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FAAC Allocates N1.678 Trillion February Revenue to FG, States, and LGs

Published

4 days ago

Mar 22, 2025.

The distributable revenue consists of N827.633 billion in statutory revenue, N609.430 billion in Value Added Tax (VAT) revenue, N35.171 billion in Electronic Money Transfer Levy (EMTL) revenue, N28.218 billion in Solid Minerals revenue, and a N178 billion augmentation.
From the Electronic Money Transfer Levy (EMTL) revenue of N35.171 billion, the Federal Government, State Governments, and Local Government Councils received N5.276 billion, N17.585 billion, and N12.310 billion, respectively.
The gross VAT revenue in February 2025 was N654.456 billion, a decrease of N117.430 billion compared to the N771.886 billion recorded in January 2025.

The Federation Account Allocation Committee (FAAC) has approved the distribution of N1.678 trillion in February 2025 revenue among the three tiers of government: Federal, State, and Local Governments.

EKO HOT BLOG reports that the announcement was made during the March 2025 FAAC meeting held in Abuja, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

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The distributable revenue consists of N827.633 billion in statutory revenue, N609.430 billion in Value Added Tax (VAT) revenue, N35.171 billion in Electronic Money Transfer Levy (EMTL) revenue, N28.218 billion in Solid Minerals revenue, and a N178 billion augmentation.

In February 2025, the total gross revenue generated was N2.344 trillion, with N89.092 billion deducted for collection costs and N577.097 billion for transfers, interventions, refunds, and savings.

The gross statutory revenue for February 2025 amounted to N1.653 trillion, which is N194.664 billion lower than the N1.848 trillion received in January 2025.

Likewise, the gross VAT revenue in February 2025 was N654.456 billion, a decrease of N117.430 billion compared to the N771.886 billion recorded in January 2025.

FAAC distributed the total distributable revenue of N1.678 trillion among the three tiers of government. The Federal Government received N569.656 billion, State Governments received N562.195 billion, and Local Government Councils received N410.559 billion.

From the distributable statutory revenue of N827.633 billion, the Federal Government, State Governments, and Local Government Councils received N366.262 billion, N185.773 billion, and N143.223 billion, respectively.

Moreover, N132.374 billion, representing 13% of mineral revenue, was shared as derivation revenue among benefiting states.

FAAC Allocates N1.678 Trillion February Revenue to FG, States, and LGs

The N609.430 billion distributable VAT revenue was allocated as follows: the Federal Government received N91.415 billion, State Governments received N304.715 billion, and Local Government Councils received N213.301 billion.

From the Electronic Money Transfer Levy (EMTL) revenue of N35.171 billion, the Federal Government, State Governments, and Local Government Councils received N5.276 billion, N17.585 billion, and N12.310 billion, respectively.

Lastly, the Solid Minerals revenue of N28.218 billion was distributed as follows: N12.933 billion to the Federal Government, N6.560 billion to State Governments, and N5.057 billion to Local Government Councils.

An additional N3.668 billion, representing 13% of mineral revenue, was shared with the benefiting states as derivation revenue.The augmentation of N178 billion was shared as follows: the Federal Government received N93.770 billion, the State Governments received N47.562 billion, and the Local Government Councils received N36.668 billion.