The Federation Account Allocation Committee (FAAC) has disbursed N1.678 trillion among the Federal Government, State Governments, and Local Government Councils as revenue for February 2025.
The allocation, made during FAAC’s March meeting in Abuja, was presided over by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The February disbursement reflects a decline of N25 billion (1.47%) compared to the N1.703 trillion shared in January 2025.
According to the communiqué issued after the meeting, the total distributable revenue included:
Statutory revenue – N827.633 billion
Value Added Tax (VAT) – N609.430 billion
Electronic Money Transfer Levy (EMTL) – N35.171 billion
Solid Minerals revenue – N28.218 billion
Augmentation – N178 billion
The gross revenue available in February stood at N2.344 trillion, with deductions for revenue collection costs amounting to N89.092 billion and N577.097 billion allocated for transfers, interventions, refunds, and savings.
Breakdown of Allocations
Federal Government: N569.656 billion
State Governments: N562.195 billion
Local Government Councils: N410.559 billion
Oil and mineral-producing states (13% derivation): N136.042 billion
From the statutory revenue of N827.633 billion, the Federal Government received N366.262 billion, states got N185.773 billion, and local councils received N143.223 billion. Additionally, N132.374 billion was shared among oil-producing states as derivation revenue.
From VAT revenue of N609.430 billion, the Federal Government got N91.415 billion, states received N304.715 billion, and local governments got N213.301 billion.
FAAC also noted a rise in revenues from Oil and Gas Royalty and EMTL, while VAT, Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies recorded declines.
The meeting was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi, and representatives of states and revenue agencies.
