The Federation Account Allocation Committee (FAAC) has disbursed a total of ₦1.659 trillion to the Federal Government, state governments, and local government councils (LGCs) as revenue for the month of May 2025.
The allocation was confirmed in a communiqué issued after the FAAC meeting held in Abuja on Wednesday. The communiqué was signed and made available by Mr. Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation.
According to the document, the total distributable revenue for the month comprised ₦863.895 billion from statutory revenue, ₦691.714 billion from Value Added Tax (VAT), ₦27.667 billion from Electronic Money Transfer Levy (EMTL), and ₦76.614 billion from Exchange Difference.
Gross revenue available in May stood at ₦2.942 trillion, out of which ₦111.908 billion was deducted for cost of collection and ₦1.171 trillion was used for transfers, interventions, and refunds.
From the total revenue shared, the Federal Government received ₦538.004 billion, while state governments got ₦577.841 billion. Local governments received ₦419.968 billion. Additionally, ₦124.076 billion was distributed to oil-producing states as 13% derivation.
Breakdown of the statutory revenue of ₦863.895 billion shows the Federal Government received ₦393.518 billion, states ₦199.598 billion, and LGs ₦153.881 billion, with ₦116.898 billion shared as derivation.
For the ₦691.714 billion VAT revenue, the Federal Government took ₦103.757 billion, states ₦345.857 billion, and LGs ₦242.100 billion.
From the EMTL of ₦27.667 billion, the Federal Government received ₦4.150 billion, states ₦13.833 billion, and LGs ₦9.683 billion.
The ₦76.614 billion exchange difference revenue was shared with the Federal Government receiving ₦36.579 billion, states ₦18.553 billion, and LGs ₦14.304 billion. An additional ₦7.178 billion was distributed to states as derivation revenue from this segment.
FAAC also reported that Companies Income Tax (CIT), VAT, and Import Duty recorded significant increases in May, while Petroleum Profit Tax (PPT), Oil and Gas Royalty, CET Levies, and EMTL experienced a decline. Excise Duty saw only a marginal increase.
