Abuja, Nigeria – February 28, 2025
The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.703 trillion to the three tiers of government and other stakeholders from the revenue generated in January 2025. The disbursement was announced during FAAC’s February meeting, presided over by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
According to a communique issued after the meeting by the Director of Press and Public Relations, Mohammed Manga, the total revenue available for distribution comprised Gross Statutory Revenue (N749.727 billion), Value Added Tax (VAT) (N718.781 billion), Electronic Money Transfer Levy (EMTL) (N20.548 billion), and an Augmentation of N214 billion.
Breakdown of FAAC Disbursement
- Federal Government: N552.59 billion
- State Governments: N590.61 billion
- Local Government Councils: N434.57 billion
- Oil-Producing States (13% derivation): N125.28 billion
Revenue Performance and Allocations
Value Added Tax (VAT) Revenue
The Gross VAT revenue collected in January 2025 amounted to N771.886 billion, reflecting an increase of N122.325 billion compared to the previous month. From this amount:
- Cost of collection: N30.875 billion
- Transfers, intervention, and refunds: N22.230 billion
- Distributable VAT revenue: N718.781 billion
The distributed VAT revenue breakdown:
- Federal Government: N107.82 billion
- State Governments: N359.39 billion
- Local Government Councils: N251.57 billion
Gross Statutory Revenue
FAAC recorded a Gross Statutory Revenue of N1.848 trillion in January 2025, representing an increase of N622.125 billion from the previous month. From this, allocations included:
- Cost of collection: N76.055 billion
- Transfers, interventions, and refunds: N1.022 trillion
- Distributable statutory revenue: N749.727 billion
The statutory revenue was shared as follows:
- Federal Government: N343.61 billion
- State Governments: N174.29 billion
- Local Government Councils: N134.37 billion
- 13% Derivation Fund for mineral-producing states: N97.46 billion
Electronic Money Transfer Levy (EMTL) Revenue
A total of N21.404 billion was collected from EMTL in January 2025, with distributions as follows:
- Federal Government: N3.08 billion
- State Governments: N7.19 billion
- Local Government Councils: N10.27 billion
- Cost of collection: N0.86 billion
Augmentation Allocation
An additional N214 billion was provided as augmentation, distributed as follows:
- Federal Government: N98.08 billion
- State Governments: N49.75 billion
- Local Government Councils: N38.35 billion
- Oil-Producing States (13% derivation): N27.82 billion
Revenue Trends
FAAC noted that VAT, Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies showed significant increases, while Electronic Money Transfer Levy (EMTL) and Oil and Gas Royalty declined in January 2025.
In addition to the allocations to the three tiers of government, N107.79 billion was allocated for the cost of collection, while N830.66 billion was earmarked for transfers, interventions, and refunds.
The FAAC meeting reaffirmed the commitment of the government to ensuring equitable distribution of revenue to support economic development across the country.