The Federation Account Allocation Committee (FAAC) disbursed a total of N1.659 trillion in revenue to the federal government, states, and local government councils for May 2025.
Details of the month’s allocations are contained in a press release from the Office of the Accountant General of the Federation (OAGF).
The monthly FAAC meeting, held in Abuja, confirmed that the N1.659 trillion shared included distributable statutory revenue of N863.895 billion, Value Added Tax (VAT) revenue of N691.714 billion, Electronic Money Transfer Levy (EMTL) revenue of N27.667 billion, and Exchange Difference revenue of N76.614 billion.
Total gross revenue available in May was N2.942 trillion. After deductions of N111.908 billion for cost of collection and transfers, interventions, and refunds totaling N1.171 trillion, the distributable revenue amounted to the reported sum.
Gross revenue is the total amount of money collected from all revenue sources before any deductions. It includes everything the government collects from taxes, levies, royalties, VAT, customs duties, among others.
The communiqué noted that “gross statutory revenue of N2.094 trillion was received for the month of May 2025,” marking a modest increase of N10.023 billion from April’s N2.084 trillion.
Gross statutory revenue, on the other hand, is a subset of the gross revenue and refers specifically to revenues that are statutorily allocated to the Federation Account by law.
This includes revenues like Companies Income Tax (CIT), Petroleum Profit Tax (PPT), Import Duties, and other legally defined revenue heads that must be shared between the federal, state, and local governments.
VAT revenues saw a more pronounced rise, with “gross revenue of N742.820 billion… higher than the N642.265 billion available in April 2025 by N100.555 billion.”
From the total distributable amount, the federal government received N538.004 billion, States got N577.841 billion, while Local Government Councils were allocated N419.968 billion. Additionally, “the sum of N124.076 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.”
Breakdowns revealed that on the distributable statutory revenue of N863.895 billion, the federal government’s share stood at N393.518 billion, states at N199.598 billion, local government councils at N153.881 billion, and derivation revenue to states at N116.898 billion.
VAT revenue distribution saw the federal government receive N103.757 billion, states N345.857 billion, and local government councils N242.100 billion.
Electronic Money Transfer Levy (EMTL) contributions to the federation account amounted to N27.667 billion, with the federal government receiving N4.150 billion, states N13.833 billion, and local government councils N9.683 billion.
Exchange difference revenue of N76.614 billion was allocated as follows: federal government N36.579 billion, states N18.553 billion, local government councils N14.304 billion, and derivation revenue of N7.178 billion to states.
The communiqué further observed shifts in revenue streams, noting that “Companies Income Tax (CIT), Value Added Tax (VAT) and Import Duty increased significantly,” while “CET Levies, Petroleum Profit Tax (PPT), Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) recorded decreases.” Excise Duty “increased only marginally.”
