FAAC gives breakdown of shares of N1.7trn to FG, States, LGs.
FAAC gives breakdown of shares of N1.7trn to FG, States, LGs.
The Federation Account Allocation Committee (FAAC) has disbursed N1.703 trillion to the Federal Government, States, and Local Government Councils.
This was announced following the FAAC meeting held in Abuja, according to a statement by Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation.
FAAC declared a gross revenue of N2.641 trillion for January 2025, indicating that approximately N900 billion was allocated to Special Funds and revenue-generating agencies as a cost of collection.
Total deduction for cost of collection: N107.786 billion.
Total transfers, interventions, refunds, and savings: N830.663 billion.
The N1.703 trillion total distributable revenue includes:
Statutory revenue: N749.727 billion
Value Added Tax (VAT) revenue: N718.781 billion.
Electronic Money Transfer Levy (EMTL) revenue: N20.548 billion
Augmentation: N214 billion
Comparison with Previous Month
Gross statutory revenue for January 2025: N1.848 trillion
Gross statutory revenue for December 2024: N1.226 trillion.
Increase: N622.125 billion
Gross VAT revenue for January 2025: N771.886 billion
Gross VAT revenue for December 2024: N649.561 billion
Increase: N122.325 billion
Revenue Distribution
From the N1.703 trillion total distributable revenue:
Federal Government: N552.591 billion
State Governments: N590.614 billion
Local Government Councils: N434.567 billion
Derivation revenue (13% of mineral revenue): N125.284 billion
Breakdown by Revenue Type
1. Statutory Revenue (N749.727 billion):
Federal Government: N343.612 billion
State Governments: N174.285 billion
Local Government Councils: N134.366 billion
Derivation revenue: N97.464 billion
2. VAT Revenue (N718.781 billion):
Federal Government: N107.817 billion
State Governments: N359.391 billion
Local Government Councils: N251.573 billion
3. Electronic Money Transfer Levy (N20.548 billion):
Federal Government: N3.082 billion
State Governments: N7.192 billion
Local Government Councils: N10.274 billion
4. Augmentation (N214 billion):
Federal Government: N98.080 billion
State Governments: N49.747 billion
Local Government Councils: N38.353 billion
Derivation revenue: N27.820 billion
FAAC assured that revenue allocation would continue to support economic growth and government programs at all levels.
