The Federation Account Allocation Committee (FAAC) has shared the May 2025 revenue of
N1.659 trillion to the federal government,States and the 774 Local Government Councils in the country.
Bawa Mokwa, Director Press and Public Relations, Federal Ministry of Finance confirmed this in a communique.
Mokwa said the revenue was shared at the June 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja on Wednesday.
The N1.659 trillion total distributable revenue comprised distributable statutory revenue of N863.895 billion, distributable Value Added Tax (VAT) revenue of N691.714 billion, Electronic Money Transfer Levy (EMTL) revenue of N27.667 billion and Exchange Difference revenue of N76.614 billion.
The communiqué indicated that total gross revenue of N2.942 trillion was available in the month of May 2025.
Total deduction for cost of collection was N111.908 billion while total transfers, interventions and refunds was N1.171 trillion.
According to the communiqué, gross statutory revenue of N2.094 trillion was received for the month of May 2025.
This was higher than the N2.084 trillion received in the month of April 2025 by N10.023 billion.
Gross revenue of N742.820 billion was available from the Value Added Tax (VAT) in May 2025.
This was higher than the N642.265 billion available in the month of April 2025 by N100.555 billion.
The communiqué stated that from the N1.659 trillion total distributable revenue, the Federal Government received N538.004 billion while states received N577.841 billion.
The Local government Council received N419.968 billion, while N124.076 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
On the N863.895 billion distributable statutory revenue, the communiqué stated that the Federal Government received N393.518 billion and the State Governments received N199.598 billion.
The Local Government Councils received N153.881 billion and N116.898 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
From the N691.714 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N103.757 billion, the State Governments received N345.857 billion and the Local Government Councils received N242.100 billion.
A total sum of N4.150 billion was received by the Federal Government from the N27.667 billion Electronic Money Transfer Levy (EMTL).
The State Governments received N13.833 billion and the Local Government Councils received N9.683 billion.
From the N76.614 billion Exchange Difference revenue, the communiqué stated that the Federal Government received N36.579 billion and the State Governments received N18.553 billion.
The Local Government Councils received N14.304 billion, while the sum of N7.178 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
In May 2025, Companies Income Tax (CIT), Value Added Tax (VAT) and Import Duty increased significantly while CET Levies, Petroleum Profit Tax(PPT), Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) recorded decreases. Excise Duty increased only marginally.
(vitalnewsngr.com)
