By Matthew Denis
A total of N1.659 trillion in Federation Account revenue for May 2025 has been distributed among the Federal Government, State Governments, and Local Government Councils.
This was disclosed in a statement released on Wednesday by the Director of Press and Public Relations, Bawa Mokwa.
According to the statement, the revenue allocation was finalised at the June 2025 meeting of the Federation Account Allocation Committee (FAAC), held in Abuja.
The N1.659 trillion shared comprised distributable statutory revenue of N863.895 billion, Value Added Tax (VAT) revenue of N691.714 billion, Electronic Money Transfer Levy (EMTL) revenue of N27.667 billion, and Exchange Difference revenue amounting to N76.614 billion.
A communiqué issued by the FAAC revealed that the total gross revenue available for the month of May 2025 stood at N2.942 trillion. Deductions for the cost of collection totalled N111.908 billion, while transfers, interventions, and refunds amounted to N1.171 trillion.
According to the communiqué, gross statutory revenue for May 2025 was N2.094 trillion, reflecting an increase of N10.023 billion compared to the N2.084 trillion recorded in April 2025.
The gross revenue from VAT for May 2025 was N742.820 billion, which marked a rise of N100.555 billion from the N642.265 billion collected in April 2025.
From the N1.659 trillion distributable revenue, the Federal Government received N538.004 billion, State Governments received N577.841 billion, and Local Government Councils received N419.968 billion. An additional N124.076 billion, representing 13% of mineral revenue, was distributed to oil-producing states as derivation revenue.
From the statutory revenue of N863.895 billion, the Federal Government was allocated N393.518 billion, while State Governments received N199.598 billion, and Local Government Councils received N153.881 billion. A further N116.898 billion from mineral revenue was disbursed to qualifying states.
In terms of the N691.714 billion VAT revenue, the Federal Government received N103.757 billion, State Governments received N345.857 billion, and Local Government Councils received N242.100 billion.
Out of the N27.667 billion EMTL revenue, the Federal Government collected N4.150 billion, while the State Governments and Local Government Councils received N13.833 billion and N9.683 billion respectively.
From the N76.614 billion generated from exchange differences, the Federal Government received N36.579 billion, the State Governments received N18.553 billion, and the Local Government Councils received N14.304 billion. A sum of N7.178 billion, representing 13% of mineral revenue, was also allocated to benefiting states.
The communiqué further disclosed that Companies Income Tax (CIT), VAT, and Import Duty recorded significant increases in May 2025. However, CET Levies, Petroleum Profit Tax (PPT), Oil and Gas Royalties, and EMTL saw declines, while Excise Duty experienced only a marginal increase.