From Adanna Nnamani, Abuja
The Federation Account Allocation Committee (FAAC) has shared a total of N2.225 trillion as revenue generated in August 2025 to the Federal Government, states and local government councils.
The revenue was distributed at the FAAC meeting held on Wednesday in Abuja, according to a communiqué issued at the end of the meeting.
Breakdown of the disbursement showed that the Federal Government received N684.46 billion, states received N347.17 billion, while local government councils got N267.65 billion. In addition, oil-producing states shared N179.31 billion as 13 per cent derivation revenue.
The communiqué revealed that the total distributable revenue comprised N1.48 trillion from statutory revenue, N672.90 billion from Value Added Tax (VAT), N32.34 billion from the Electronic Money Transfer Levy (EMTL), and N41.28 billion from Exchange Difference.
From the VAT revenue, the Federal Government received N100.94 billion, states received N336.45 billion, and local governments got N235.52 billion. Similarly, from the EMTL, the Federal Government received N4.85 billion, states N16.17 billion, and local governments N11.32 billion.
The communiqué added that from the exchange difference of N41.28 billion, the Federal Government got N19.80 billion, states N10.04 billion, local governments N7.74 billion, while oil-producing states shared N3.70 billion as derivation revenue.
It further disclosed that the gross statutory revenue of N2.84 trillion in August was lower than the N3.07 trillion received in July by N231.91 billion.
While Oil & Gas Royalty, VAT, and CET levies recorded increases, revenue from Petroleum Profit Tax (PPT), Import Duty, Companies Income Tax (CIT), Excise Duty, and EMTL declined.
“A total gross revenue of N3.64 trillion was available in the month of August. Deductions for cost of collection stood at N124.84 billion, while transfers, interventions, refunds and savings amounted to N1.29 trillion,” the communiqué stated.
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