FG, States, LGAs share N1.578trn

By Matthew Denis, Abuja

A total of N1.578 trillion, representing the March 2025 Federation Account Revenue, has been distributed to the Federal Government, States, and Local Government Councils. The allocation was made at the April 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja on Tuesday.

The distributable revenue of N1.578 trillion included N931.325 billion in distributable statutory revenue, N593.750 billion in distributable Value Added Tax (VAT) revenue, N24.971 billion from the Electronic Money Transfer Levy (EMTL), and N28.711 billion in Exchange Difference revenue.

According to a communiqué from the FAAC, the total gross revenue available for March 2025 amounted to N2.411 trillion. Deductions for the cost of collection totalled N85.376 billion, while transfers, interventions, and refunds amounted to N747.180 billion.

The communiqué also noted that the gross statutory revenue for March 2025 was N1.718 trillion, surpassing the N1.653 trillion recorded in February 2025 by N65.422 billion. In contrast, gross VAT revenue for the month of March was N637.618 billion, lower than February’s N654.456 billion by N16.838 billion.

Of the total distributable revenue of N1.578 trillion, the Federal Government received N528.696 billion, while the State Governments were allocated N530.448 billion. The Local Government Councils received N387.002 billion, with an additional N132.611 billion (13% of mineral revenue) allocated as derivation revenue to the benefiting States.

From the N931.325 billion in distributable statutory revenue, the Federal Government received N422.485 billion, State Governments received N214.290 billion, and Local Government Councils received N165.209 billion. The benefiting States also received N129.341 billion in derivation revenue.

In the case of VAT revenue, the Federal Government received N89.063 billion, while the States and Local Government Councils received N296.875 billion and N207.813 billion, respectively.

The distribution of the N24.971 billion Electronic Money Transfer Levy (EMTL) saw the Federal Government receiving N3.746 billion, with State Governments receiving N12.485 billion and Local Government Councils receiving N8.740 billion.

From the N28.711 billion in Exchange Difference revenue, the Federal Government received N13.402 billion, the State Governments received N6.798 billion, and the Local Government Councils were allocated N5.241 billion. The benefiting States also received N3.270 billion as derivation revenue.

In terms of performance, March 2025 saw notable increases in Petroleum Profit Tax (PPT) and Companies Income Tax (CIT), while Oil and Gas Royalty, EMTL, VAT, Excise Duty, Import Duty, and CET Levies all recorded declines