FAAC Disburses Record N1.818 Trillion to Federal, State, and Local Governments in July
The Federation Account Allocation Committee (FAAC) has distributed a record-breaking N1.818 trillion to the federal, state, and local governments for revenue generated in June 2025, marking the highest monthly allocation this year. The figure, announced in a communiqué issued after the FAAC meeting in Abuja, reflects a significant increase from previous months, according to Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF).
The July allocation surpasses May’s N1.659 trillion, April’s N1.681 trillion, March’s N1.578 trillion, February’s N1.678 trillion, and January’s N1.703 trillion. The N1.818 trillion comprises N1.018 trillion in statutory revenue, N631.507 billion from Value Added Tax (VAT), N29.165 billion from the Electronic Money Transfer Levy (EMTL), N38.849 billion from exchange difference revenue, and N100 billion from non-mineral revenue augmentation.
Total gross revenue for June reached N4.232 trillion, with deductions of N162.786 billion for collection costs and N2.251 trillion for transfers, interventions, refunds, and savings. Statutory revenue rose by N1.390 trillion to N3.485 trillion from May’s N2.094 trillion, while VAT revenue fell by N64.655 billion to N678.165 billion from N742.820 billion in May.
The Federal Government received N645.383 billion from the distributable revenue, states got N607.417 billion, and local governments received N444.853 billion. Oil-producing states were allocated N120.759 billion as 13 percent derivation revenue from mineral sources. From the statutory revenue, the Federal Government took N474.455 billion, states received N240.650 billion, local governments got N185.531 billion, and oil-producing states received N118.256 billion. For VAT, the Federal Government received N94.726 billion, states got N315.754 billion, and local governments received N221.027 billion. EMTL and exchange difference revenues were similarly distributed among the tiers, with non-mineral augmentation shared as N52.680 billion, N26.720 billion, and N20.600 billion to the Federal Government, states, and local governments, respectively.
FAAC noted significant increases in Companies Income Tax, Petroleum Profit Tax, and EMTL, but declines in Oil and Gas Royalty, VAT, Import Duty, Excise Duty, and Common External Tariff Levies. The record allocation is expected to ease fiscal pressures for governments, supporting funding obligations and development programs amid ongoing economic challenges.
