FAAC shares N1.82trn to FG, states, LGs for June — up by N170bn
The Federation Account Allocation Committee (FAAC) says it disbursed N1.82 trillion to the federal, state, and local governments as allocation for June 2025 — an increase of N170 billion from the N1.65 trillion shared in May.
The announcement was contained in a statement signed by Bawa Mokwa, director of press at the Office of the Accountant-General of the Federation (OAGF), following the committee’s July meeting.
According to the communiqué, the total distributable revenue for the month included statutory earnings, value added tax (VAT), electronic money transfer levy (EMTL), exchange difference, and a non-mineral revenue augmentation.
Statutory revenue alone accounted for over N1 trillion, while VAT brought in over N631 billion. Other inflows came from EMTL, exchange gains, and a N100 billion top-up from non-mineral sources.
FAAC stated that the total gross revenue available for June was N4.232 trillion, from which N162.78 billion was deducted for collection costs, while N2.25 trillion was allocated for transfers, refunds, savings, and interventions.
It noted that gross statutory revenue rose sharply to N3.49 trillion in June, up by N1.39 trillion from the N2.09 trillion recorded in May. However, VAT collections dipped to N678.17 billion, a drop of N64.65 billion from the previous month.
Out of the N1.82 trillion shared, the federal government received N645.38 billion, the states received N607.42 billion, and the local governments received N444.85 billion. Oil-producing states were allocated N120.76 billion as 13 percent derivation.
The breakdown of the disbursement showed that from statutory revenue, the federal government received N474.46 billion, states received N240.65 billion, and local governments received N185.53 billion.
From the VAT revenue, the federal government received N94.73 billion, while state and local governments got N315.75 billion and N221.03 billion, respectively.
FAAC also disclosed that from the EMTL revenue of N29.17 billion, the federal government received N4.37 billion, the states received N14.58 billion, and the local governments received N10.21 billion.
From the N38.85 billion exchange difference, the federal government received N19.15 billion, the states received N9.71 billion, and N7.49 billion went to local governments. A further N2.5 billion was allocated from this as 13 percent derivation revenue.
In addition, the federal government received N52.68 billion from the N100 billion augmentation, while the states and local governments got N26.72 billion and N20.6 billion, respectively.
FAAC stated that there was a significant increase in collections from Companies Income Tax, Petroleum Profit Tax, and the EMTL. However, it also noted a decline in receipts from oil and gas royalties, VAT, import duty, excise duty, and CET levies.
