- Despite shortfalls in CET Levies, PPT, EMTL, others
BY COBHAM NSA – With improved accruals in gross statutory revenue for the month of May 2025, a total of N1.659 trillion has been shared as the federation account revenue, to the Federal Government, States and the Local Government Councils
The figure for the month stood at N2.094 trillion, representing about N10.023 billion higher than the sum of N2.084 trillion received in the month of April 2025.
However, there were recorded shortfalls in Common External Tariff (CET) Levies, Petroleum Profit Tax (PPT), Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) for the month under review.
Rising from its June 2025 meeting in Abuja, the Federation Account Allocation Committee (FAAC) explained that the N1.659 trillion total distributable revenue comprised 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.
The FAAC communiqué indicated that while N2.942 trillion was available as total gross revenue
in the month of May 2025, total deduction for cost of collection stood at N111.908 billion with total transfers, interventions and refunds amounting to N1.171 trillion.
According to the communiqué, gross revenue of N742.820 billion was available from the Value Added Tax (VAT) in May 2025, a figure that was higher than the N642.265 billion available in the month of April 2025 by N100.555 billion.
Furthermore, the breakdown showed that from the N1.659 trillion total distributable revenue, the Federal Government got N538.004 billion; the State Governments received N577.841 billion; the Local government Council got N419.968 billion, while the sum of N124.076 billion was shared to the benefiting States as 13% mineral derivation revenue.
Of the N863.895 billion statutory revenue, the communiqué said the Federal Government received N393.518 billion; the State Governments got N199.598 billion; the Local Government Councils received N153.881 billion with the benefiting States getting N116.898 billion as 13% of mineral derivation revenue.
Additionally, the N691.714 billion Value Added Tax (VAT) revenue saw the Federal Government taking home N103.757 billion; the State Governments got N345.857 billion while the Local Government Councils received N242.100 billion.
Similarly, the Federal Government got N4.150 billion from the N27.667 billion Electronic Money Transfer Levy (EMTL), the State Governments received N13.833 billion with N9.683 billion going to the Local Government Councils.
From the N76.614 billion Exchange Difference revenue, the Federal Government got N36.579 billion; the State Governments received N18.553 billion; the Local Government Councils received N14.304 billion, while the benefiting States smiled home with N7.178 billion as 13% mineral derivation revenue.
In May 2025, 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.
Meanwhile, a statement by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant General of the Federation (OAGF), also explained that accruals from Companies Income Tax (CIT), Value Added Tax (VAT) and Import Duty increased significantly while Excise Duty only increased marginally.
