By Nafisat Makinde
The Federal Government, states, and local governments have received a total of ₦1.7 trillion in revenue from the Federal Account Allocation Committee (FAAC) for the month of February 2025.
This revenue disbursement was made possible through the FAAC meeting held on Saturday, March 22, 2025, in Abuja, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.
According to Bawa Mokwa, Director (Press and Public Relations), the total distributable revenue of ₦1.678 trillion comprised distributable statutory revenue of ₦827.633 billion, distributable Value Added Tax (VAT) revenue of ₦609.430 billion, Electronic Money Transfer Levy (EMTL) revenue of ₦35.171 billion, Solid Minerals revenue of ₦28.218 billion, and Augmentation of ₦178 billion.
The communiqué issued by the Federation Account Allocation Committee (FAAC) revealed that the total gross revenue of ₦2.344 trillion was available in February 2025. The total deduction for cost of collection was ₦89.092 billion, while total transfers, interventions, refunds, and savings were ₦577.097 billion.
The communiqué further stated that the gross statutory revenue of ₦1.653 trillion received in February 2025 was lower than the sum of ₦1.848 trillion received in January 2025 by ₦194.664 billion.
Gross revenue of ₦654.456 billion was available from the Value Added Tax (VAT) in February 2025, which was lower than the ₦771.886 billion available in January 2025 by ₦117.430 billion.
The communiqué stated that from the total distributable revenue of ₦1.678 trillion, the Federal Government received a total sum of ₦569.656 billion, while the State Government received a total sum of ₦562.195 billion.
The Local Government Councils received a total sum of ₦410.559 billion, and a total sum of ₦136.042 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
On the ₦827.633 billion distributable statutory revenue, the communiqué states that the Federal Government received ₦366.262 billion, while the State Governments received ₦185.773 billion.
The Local Government Councils received ₦143.223 billion, and the sum of ₦132.374 billion (13% of mineral revenue) was shared with the benefiting States as derivation revenue.
From the ₦609.430 billion distributable Value Added Tax (VAT) revenue, the Federal Government received ₦91.415 billion, the State Governments received ₦304.715 billion, and the Local Government Councils received ₦213.301 billion.
A total sum of ₦5.276 billion was received by the Federal Government from the ₦35.171 billion Electronic Money Transfer Levy (EMTL). The State Governments received ₦17.585 billion, and the Local Government Councils received ₦12.310 billion.
From the ₦28.218 billion Solid Minerals revenue, the Federal Government received ₦12.933 billion, and the State Governments received ₦6.560 billion.
The Local Government Councils received ₦5.057 billion, and a total sum of ₦3.668 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
The Augmentation of ₦178 billion was shared as follows: the Federal Government received ₦93.770 billion, the State Governments received ₦47.562 billion, and the Local Government Councils received ₦36.668 billion.
In February 2025, Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) increased significantly, while Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies recorded decreases.
