The Federation Account Allocation Committee (FAAC) has disbursement N2.22 trillion August 2025, revenue to the three tiers of government.
The amount disbursed was drawn from a gross revenue of N3.63 trillion, generated in August, 2035.
A statement issued on Wednesday by the Ministry of Finance said the revenue distribution followed the committee’s meeting in Abuja in September.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy presided over the meeting.
According to the statement, from the allocation inclusive of gross statutory revenue, value-added tax (VAT), electronic money transfer levy (EMTL), and exchange difference, the federal government received N810.05 billion, the states received N709.83 billion, and local governments shared N522.23 billion.
FAAC said oil-producing states received N183.01 billion as 13 per cent derivation.
The committee also said N124.84 billion was set aside as the cost of collection, while N1.28 trillion went into transfers, interventions and refunds.
The communique further said the gross revenue available from the VAT for August was N722.61 billion, as against N687.94 billion distributed in the preceding month, resulting in an increase of N34.67 billion.
“From that amount, the sum of N28.905 Billion was allocated for the cost of collection and the sum of N20.811 Billion given for Transfers, Intervention and Refunds,” FAAC said.
From the distributable revenue, the federal government got N100.93 billion, states received N336.45 billion and local governments got N235.51 billion.
Also, the committee said gross statutory revenue of N2.83 trillion received for the month was lower than the sum of N3.07 trillion received in the previous month by N231.91 billion.
From the amount, N94.58 billion was allocated for the cost of collection and a total sum of N1.26 trillion for transfers, intervention and refunds.
Out of the remaining balance of N1.47 trillion, the federal government received N684.46 billion, states got N347.16 billion, and local governments received N267.65 billion, while N179.31 billion was given to oil-producing states as 13 per cent derivation revenue.
FAAC said that from the EMT of N33.68 billion, the federal government received N4.85 billion, states got N16.16 billion, local governments received N11.31 billion, while N1.34 billion was allocated for the cost of collection.
The communique also said that N41.28 billion from exchange differences was distributed to the federal government (N19.79 billion), states (N10.04 billion), and the LGAs (N7.74 billion), while the oil-producing states received N3.70 billion.
In addition, FAAC said oil and gas royalty, VAT and CET levies increased significantly, while petroleum profit tax (PPT), import duty, EMTL, companies’ income tax (CIT) and excise duty recorded decreases.
According to the Communique, the total revenue distributable for the current month of August 2025 was drawn from statutory revenue of N1.47 trillion, VAT of N672.90 billion, N32.33 billion EMTL, and N41.28 billion from exchange difference, bringing the total distributable amount for the month to N2.22 trillion.
(vitalnewsngr.com)
