The Federation Account Allocation Committee (FAAC), chaired by Finance Minister and Coordinating Minister of the Economy, Wale Edun, has shared ₦2.225 trillion among the three tiers of government for August 2025, from a gross revenue of ₦3.635 trillion.
The Breakdown of the allocation indicated that the Federal Government received ₦810.047 billion, States got ₦709.831 billion, Local Government Councils received ₦522.228 billion and Oil Producing States (13% Derivation): ₦183.012 billion
Director of Information and Public Relations, Mohammed Manga in a statement indicated that deductions included ₦124.839 billion for the cost of collection and ₦1.285 trillion for transfers, interventions, and refunds, VAT revenues rose to ₦722.619 billion, up ₦34.679 billion from July.
Explaining further the statement said after deductions, ₦672.903 billion was distributed: ₦100.935 billion (FG), ₦336.452 billion (states), and ₦235.516 billion (LGs). Statutory revenue for August stood at ₦2.838 trillion, slightly lower than July’s ₦3.070 trillion.
EMTL contributed ₦33.685 billion, shared among the tiers, while ₦41.284 billion from exchange differences was also allocated. Oil and gas royalties, VAT, and CET levies increased significantly, while PPT, import duty, EMTL, CIT, and excise duty declined.
Minister Edun commended FAAC for diligent resource management, highlighting that ongoing reforms are beginning to yield positive results. “Better days are ahead,” he assured, urging prudent management of public resources to meet citizens’ needs.