The Federation Account Allocation Committee (FAAC) has shared N1.578 trillion among the three tiers of government as revenue generated in March 2025.
The was disclosed on Tuesday in a press release issued by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation.
He said the money was shared during the April 2025 FAAC meeting held in Abuja.
“A total sum of N1.578 trillion, being March 2025 Federation Account Revenue, has been shared to the Federal Government, States, and the Local Government Councils.
“The revenue was shared at the April 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja,” he said.
The statement said the distributable revenue comprised statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange difference earnings.
Mokwa stated that ”
Despite a modest rise in gross statutory inflows for the month, the final distributable sum continued on a downward trend, weighed down by reduced VAT and EMTL receipts.
“Breakdown of March allocation : Out of the N1.578 trillion shared, the Federal Government received N528.696 billion, state governments got N530.448 billion, and local government councils received N387.002 billion.
“An additional N132.611 billion was allocated to oil-producing states as 13% derivation revenue.”
(vitalnewsngr.com)
