The Federation Account Allocation Committee (FAAC) has distributed a total of ₦1.578 trillion among the Federal Government, 36 states, and local government councils for the month of March 2025, according to a communiqué issued by the Office of the Accountant-General of the Federation.
The revenue was shared during FAAC’s April meeting held in Abuja, with allocations drawn from multiple sources, including statutory revenue, VAT, and other levies.
Breakdown of the ₦1.578 Trillion Distributable Revenue:
- Statutory Revenue: ₦931.325 billion
- Value Added Tax (VAT): ₦593.750 billion
- Electronic Money Transfer Levy (EMTL): ₦24.971 billion
- Exchange Difference Revenue: ₦28.711 billion
While gross revenue for March stood at ₦2.411 trillion, FAAC noted that ₦85.376 billion was deducted for collection costs, and ₦747.180 billion went towards transfers, interventions, and refunds.
Compared to February, statutory revenue showed improvement, rising from ₦1.653 trillion to ₦1.718 trillion, a difference of ₦65.422 billion. However, VAT revenue declined slightly, falling to ₦637.618 billion from ₦654.456 billion in February.
Allocation by Tier of Government:
- Federal Government: ₦528.696 billion
- State Governments: ₦530.448 billion
- Local Governments: ₦387.002 billion
- 13% Derivation to Oil-Producing States: ₦132.611 billion
Further Details by Revenue Component:
Statutory Revenue (₦931.325 billion):
- FG: ₦422.485 billion
- States: ₦214.290 billion
- LGs: ₦165.209 billion
- Derivation (13%): ₦129.341 billion
VAT (₦593.750 billion):
- FG: ₦89.063 billion
- States: ₦296.875 billion
- LGs: ₦207.813 billion
EMTL (₦24.971 billion):
- FG: ₦3.746 billion
- States: ₦12.485 billion
- LGs: ₦8.740 billion
Exchange Difference (₦28.711 billion):
- FG: ₦13.402 billion
- States: ₦6.798 billion
- LGs: ₦5.241 billion
- Derivation (13%): ₦3.270 billion
Tax Performance Snapshot:
While Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) recorded significant increases in March, revenues from Oil and Gas Royalty, VAT, EMTL, Excise Duty, Import Duty, and CET Levies saw declines.
