FG, States, LGCs share N1.703trn revenue for January
The Federal Government, States, and Local Government Councils collectively received a total of N1.703 trillion from the Federation Account revenue for January 2025. This was shared on Thursday among the three arms.
This represents a significant increase of 19.6%, equivalent to N279 billion, compared to the N1.424 trillion allocated in December 2024.
A statement made available to Nigerian NewsDirect by Director of Press and Public Relations at the Office of the Accountant General of the Federation, Bawa Mokwa, confirmed that the total distributable revenue of N1.703 trillion comprises N749.727 billion from statutory revenue, N718.781 billion from Value Added Tax (VAT), N20.548 billion from the Electronic Money Transfer Levy (EMTL), and an augmentation of N214 billion.
The figures were disclosed in a communiqué released by the Federation Account Allocation Committee (FAAC) following its monthly meeting.
The total gross revenue for January 2025 reached N2.641 trillion, exceeding the N2.310 trillion recorded in December 2024.
According to the communiqué, total deductions for collection costs amounted to N107.786 billion, while total transfers, interventions, refunds, and savings stood at N830.663 billion.
A breakdown of the N1.703 trillion allocation from the Federation Account reveals that the Federal Government received N552.591 billion, State Governments were allocated N590.614 billion, and Local Government Councils were allocated N434.567 billion.
Additionally, States entitled to derivation revenue were allocated N125.284 billion, representing 13% of mineral revenue.
The gross statutory revenue for January 2025 totalled N1.848 trillion, reflecting an increase of N622.125 billion from the N1.226 trillion recorded in December 2024. Meanwhile, gross VAT revenue stood at N771.886 billion, an increase of N122.325 billion from the N649.561 billion collected in December.
From the statutory revenue of N749.727 billion, the Federal Government received N343.612 billion, State Governments received N174.285 billion, and Local Government Councils were allocated N134.366 billion. Additionally, N97.464 billion was distributed to States entitled to 13% derivation revenue.
VAT revenue distribution amounted to N718.781 billion, with the Federal Government receiving N107.817 billion, State Governments allocated N359.391 billion, and Local Government Councils receiving N251.573 billion.
The Electronic Money Transfer Levy of N20.548 billion was distributed among the Federal Government (N3.082 billion), State Governments (N7.192 billion), and Local Government Councils (N10.274 billion).
From the N214 billion augmentation, the Federal Government received N98.080 billion, State Governments were allocated N49.747 billion, and Local Government Councils received N38.353 billion. An additional N27.820 billion, representing 13% of mineral revenue, was allocated to qualifying States.
The communiqué also highlighted an increase in revenue collection from VAT, Petroleum Profit Tax, Companies Income Tax, Excise Duty, Import Duty, and Common External Tariff (CET) Levies.
However, it noted a decline in revenue from the Electronic Money Transfer Levy (EMTL) and Oil and Gas Royalty receipts.
