In a strong boost to government finances, the Federation Account Allocation Committee (FAAC) has shared a total sum of N1.681 trillion to the Federal Government, States, and Local Government Councils as revenue allocation for April 2025.
Director of Information and Public Relations, Mohammed Manga, in a statement, indicated that the figure was drawn from a gross total of N2.848 trillion, marking one of the highest distributions in recent times.
The meeting, chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun saw allocations made from statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference.
Highlights of the Distribution indicated that the Federal Government received N565.307b while states shared N556.741b and Local Government Councils received N406.627 billion
Oil Producing States received N152.553b as 13% Derivation
In addition to these, the statement indicated that N101.051tr was earmarked for the cost of collection, while N1.066tr was set aside for transfers, interventions, and refunds
According to the statement, revenue from Value Added Tax (VAT) stood at N642.265 billion, indicating an increase of N4.647 billion from the previous month.
After deductions for collection costs and transfers, N598.077 billion was shared with the federal government receiving N89.712b, states: N299.039 billion, Local Governments: N209.327 billion
Gross statutory revenue climbed to N2.084 trillion, up by N365.595 billion from the previous month. After necessary deductions, N962.882 billion was shared among the three tiers of government, with the federal government getting N431.307 billion, states receiving N218.765 billion, Local Governments receiving N168.659b and Derivation (13%): N144.151b
Additional Revenue Streams from Electronic Money Transfer Levy (EMTL) of N40.481b out of which a total of N38.862b was shared with Federal getting N5.829b, States: N19.431b and LGs: N13.602b
From Exchange Difference of N81.407 b was shared with Federal receiving N38.459b, States: N19.507b, LGs: N15.039b andnDerivation: N8.402b
On the Performance of revenues, FAAC reported significant increases in Petroleum Profit Tax (PPT), Oil and Gas Royalties, VAT, EMTL, Excise Duty, Import Duty, and CET Levies, while Company Income Tax (CIT) saw a decline.
The total sum shared for April 2025 stood at N1.681tr, made up of
Statutory Revenue: N962.882b, VAT: N598.077b, EMTL: N38.862b and Exchange Difference: N81.407b
Speaking at the meeting, Minister Wale Edun stressed the importance of boosting domestic revenue mobilisation as the cornerstone of Nigeria’s long-term strategy for sustainable economic growth and development.
He also commended FAAC members for their dedication and professionalism.