The Federation Account Allocation Committee (FAAC) has shared a total of N2.001 trillion as revenue for July 2025 among the Federal Government, State Governments and Local Government Councils. The figures were confirmed at FAAC’s August 2025 meeting held in Abuja.
According to a communiqué from FAAC issued by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation (OAGF), the amount distributed included N1.282 trillion from statutory sources, N640.610 billion from Value Added Tax (VAT), N37.601 billion from the Electronic Money Transfer Levy (EMTL) and N39.745 billion from Exchange Difference.
The total gross revenue for July 2025 stood at N3.836 trillion, Nairametrics reported.
Deductions for the cost of collection came to N152.681 billion, while transfers, interventions, refunds and savings amounted to N1.683 trillion.
Gross statutory revenue for July was N3.070 trillion, which was lower than the N3.485 trillion recorded in June by N415.108 billion. Gross VAT for July was N687.940 billion, an increase of N9.775 billion compared to June’s N678.165 billion.
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Out of the distributable revenue of N2.001 trillion, the Federal Government received N735.081 billion, State Governments received N660.349 billion, and Local Government Councils received N485.039 billion. In addition, N120.359 billion, representing 13% of mineral revenue, was shared to oil-producing states.
From the N1.282 trillion statutory revenue, the Federal Government received N613.805 billion, State Governments N311.330 billion and Local Councils N240.023 billion, while N117.714 billion (13% of mineral revenue) was allocated to benefiting states.
From the VAT component of N640.610 billion, the Federal Government got N96.092 billion, State Governments N320.305 billion and Local Councils N224.214 billion.
From the EMTL amounting to N37.601 billion, the Federal Government received N5.640 billion, State Governments N18.801 billion and Local Councils N13.160 billion.
From the Exchange Difference of N39.745 billion, the Federal Government received N19.544 billion, State Governments N9.913 billion and Local Councils N7.643 billion, while N2.643 billion (13% of mineral revenue) was also allocated to benefiting states.
FAAC noted that Petroleum Profit Tax (PPT), Oil and Gas Royalties, EMTL and Excise Duty recorded significant growth in July 2025, while VAT and Import Duty rose slightly. Companies Income Tax (CIT) and CET Levies, however, saw declines.
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Image Credit: Nairametrics
