Federation Allocation Account Committee Distributes N1.659 Trillion as May 2025 Revenue

Strategic Insights -

The Federation Allocation Account Committee (FAAC) has distributed a total of N1.659 trillion as May 2025 revenue to the Federal Government, states, and local government councils from a gross revenue of N2.942 trillion. This was disclosed in a statement by Mohammed Manga, Director of Information and Public Relations at the Federal Ministry of Finance, following the FAAC meeting held on Wednesday in Abuja. The session was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

Key Takeaways:

  • The total distributable revenue for May 2025 comprised N863.895 billion from statutory revenue, N691.714 billion from VAT, N27.667 billion from EMTL, and N76.614 billion from exchange difference, bringing the total to N1.659 trillion.
  • The Federal Government received a total of N538.004 billion, N103.757 billion, and N4.150 billion from statutory revenue, VAT, and Electronic Money Transfer Levy (EMTL), respectively.
  • States received a total of N577.841 billion, N345.857 billion, and N13.833 billion from gross statutory revenue, VAT, and EMTL, respectively.
  • Local governments received a total of N419.968 billion, N242.100 billion, and N9.683 billion from gross statutory revenue, VAT, and EMTL, respectively.
  • Oil-producing states received N124.076 billion as 13 percent derivation and N7.178 billion from exchange difference.
  • N111.908 billion was earmarked as the cost of collection, while N1.171 trillion was allocated for transfers, interventions, and refunds.
  • Gross VAT revenue for May stood at N742.820 billion, marking an increase of N100.555 billion from April's N642.265 billion.
  • Statutory revenue for May was N2.094 trillion, slightly higher than the N2.084 trillion reported in the previous month.
  • Companies Income Tax (CIT), VAT, and Import Duty recorded significant increases, while Petroleum Profit Tax (PPT), CET levies, Oil and Gas Royalties, and EMTL declined.

Statistics:

  • Gross revenue for May 2025: N2.942 trillion
  • Total distributable revenue for May 2025: N1.659 trillion
  • Federal Government's share: N1.146 trillion
  • States' share: N922.41 billion
  • Local governments' share: N663.351 billion
  • Oil-producing states' share: N131.254 billion
  • Gross VAT revenue for May: N742.820 billion
  • Statutory revenue for May: N2.094 trillion
  • Companies Income Tax (CIT) revenue: N181.21 billion
  • VAT revenue: N742.820 billion
  • Import Duty revenue: N122.39 billion
  • Petroleum Profit Tax (PPT) revenue: N41.52 billion

Sources:

  • "Federation Allocation Account Committee Distributes N1.659 Trillion as May 2025 Revenue." Unattributed.