● Roberts Orji
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.578 trillion as revenue for March 2025 among the Federal Government, 36 states, and the 774 Local Government Councils in the country.
The allocation, according to a statement from the Office of the Accountant-General of the Federation released Tuesday night, was sourced from the Federation Account revenue for the month of March. It includes earnings from statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference revenue.
Out of the total distributable revenue of N1.578 trillion, the statutory revenue accounted for N931.325 billion, while VAT revenue stood at N593.750 billion. EMTL and Exchange Difference contributed N24.971 billion and N28.711 billion, respectively. The gross revenue available in the Federation Account for the month was N2.411 trillion.
Deductions for the cost of collection amounted to N85.376 billion, while total transfers, interventions, and refunds stood at N747.180 billion, leaving N1.578 trillion for distribution. The gross statutory revenue for March rose to N1.718 trillion, representing an increase of N65.422 billion compared to the N1.653 trillion received in February 2025.
However, revenue from VAT experienced a slight decline. A total of N637.618 billion was recorded in March, which was N16.838 billion less than the N654.456 billion generated in February. Other revenue sources, including Oil and Gas Royalty, EMTL, Excise Duty, Import Duty, and CET levies, also witnessed decreases.
From the N1.578 trillion distributable revenue, the Federal Government received N528.696 billion, the State Governments received N530.448 billion, while Local Government Councils got N387.002 billion. A further N132.611 billion, representing 13 percent of mineral revenue, was shared among oil-producing states as derivation revenue.
Of the N931.325 billion statutory revenue, the Federal Government received N422.485 billion, the States got N214.290 billion, and Local Governments received N165.209 billion. An additional N129.341 billion was shared to oil-producing states as derivation revenue from this segment.
In the VAT distribution of N593.750 billion, the Federal Government received N89.063 billion, the States got N296.875 billion, and the Local Governments received N207.813 billion. For EMTL, the Federal Government got N3.746 billion, States received N12.485 billion, and Local Governments received N8.740 billion.
The Exchange Difference revenue of N28.711 billion was distributed as follows: N13.402 billion to the Federal Government, N6.798 billion to the States, and N5.241 billion to the Local Governments. An additional N3.270 billion was shared to oil-producing states as derivation from this stream.
The statement further noted that while Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) recorded significant increases, other revenue streams such as VAT and EMTL posted declines. FAAC assured that efforts are ongoing to improve revenue generation and ensure sustainable allocation to all tiers of government. GMTNewsng
