The Federation Account Allocation Committee (FAAC) N2.001 trillion, July 2025 revenue to the Federal Government, States and the Local Government Councils.
The revenue was shared at the August 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The N2.001 trillion total distributable revenue comprised distributable statutory revenue of N1,282.872 trillion, distributable Value Added Tax (VAT) revenue of N640.610 billion, Electronic Money Transfer Levy (EMTL) revenue of N37.601 billion, Exchange Difference N39.745 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that total gross revenue of N3.836.980 trillion was available in the month of July 2025.
Total deduction for cost of collection was N152,681 billion while total transfers, interventions, refunds and savings was N1.683.471 trillion.
According to the communiqué, gross statutory revenue of N3.070.127 trillion was received for the month of July 2025.
This was lower than the sum of N3.485.235 trillion received in the month of June 2025 by N415.108 billion.
Gross revenue of N687.940 billion was available from the Value Added Tax (VAT) in July 2025.
This was higher than the N678.165 billion available in the month of June 2025 by N9.775 billion.
The communiqué stated that from the N2,000.828 trillion total distributable revenue, the Federal Government received total sum of N735.081 billion and the State Governments received total sum of N660.349 billion.
The Local government Council received N485.039 billion, while the sum of N120.359 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.
In July 2025,
Petroleum Profit Tax (PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL) and Excise Duty increased significantly while Value Added Tax (VAT)and import Duty increased marginally.
Companies Income Tax (CIT) and CET Levies recorded decreases.
(vitalnewsngr.com)
