The Federation Account Allocation Committee (FAAC) has shared a total of N1.578 trillion among the Federal Government, state governments, and the 774 local government councils as revenue for March 2025.
This was made known in a statement issued on Monday by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, after FAAC’s monthly meeting held in Abuja.
According to the communiqué, the total distributable amount for March includes N931.325 billion from statutory revenue, N593.750 billion from Value Added Tax (VAT), N24.971 billion from the Electronic Money Transfer Levy (EMTL), and N28.711 billion from exchange rate gains.
The gross revenue available for the month stood at N2.411 trillion, but after deductions of N85.376 billion for collection costs and N747.180 billion for transfers, interventions, and refunds, the balance shared was N1.578 trillion.
Out of the total allocation, the Federal Government received N528.696 billion, while the states got N530.448 billion. Local Government Councils received N387.002 billion. In addition, N132.611 billion was shared among oil-producing states as 13% derivation.
From the N931.325 billion statutory revenue, the Federal Government got N422.485 billion, states received N214.290 billion, and LGs got N165.209 billion. Another N129.341 billion was allocated to oil-producing states from mineral revenue.
The VAT revenue of N593.750 billion was shared as follows: FG – N89.063 billion, states – N296.875 billion, and LGs – N207.813 billion.
From the EMTL amounting to N24.971 billion, the Federal Government got N3.746 billion, states received N12.485 billion, and LGs got N8.740 billion.
The statement further disclosed that revenue from Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased significantly, while revenue from Oil and Gas royalties, VAT, EMTL, Import Duty, Excise Duty, and CET levies dropped during the month.
