The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.578 trillion as March 2025 revenue to the Federal Government, States and the Local Government Councils.
Rising from its April 2025 meeting in Abuja, FAAC explained that the total distributable revenue of N1.578 trillion consists of statutory revenue of N931.325 billion, Value Added Tax (VAT) revenue of N 593.750 billion, Electronic Money Transfer Levy (EMTL) revenue of N24.971 billion and Exchange Difference revenue of N28.711 billion.
The FAAC’s communiqué indicated that total gross revenue of N2.411 trillion was available in March 2025 with total deduction for cost of collection at N85.376 billion while total transfers, interventions and refunds came to N747.180 billion.
According to the communiqué, gross statutory revenue of N1.718 trillion came into the coffers during the month, representing about N65.422 billion higher than the sum of N1.653 trillion received in the month of February 2025.
However, gross revenue of N637.618 billion was available from the Value Added Tax (VAT), which represents a figure lower than the N654.456 billion available in February 2025 by N16.838 billion.
The breakdown of funds distribution showed that from the total revenue of N1.578 trillion, the Federal Government got N528.696 billion, the State Governments received N530.448 billion, the Local Government Councils got N387.002 billion while N132.611 billion (13 percent of mineral revenue) went to the benefiting States as derivation revenue.
Of the N931.325 billion statutory revenue, the communiqué said the Federal Government got N422.485 billion with the State Governments pocketing N214.290 billion.
On their part, the Local Government Councils received N165.209 billion while N129.341 billion was shared to the benefiting States as 13 percent mineral derivation revenue.
From the N593.750 billion distributable VAT revenue, the Federal Government received N89.063 billion, the State Governments got N296.875 billion and the Local Government Councils received N207.813 billion.
Also from the N24.971 billion Electronic Money Transfer Levy (EMTL), N3.746 billion went to the Federal Government’s coffers, the State Governments kept N12.485 billion and the Local Government Councils got N8.740 billion.
Similarly, the N28.711 billion Exchange Difference revenue saw the Federal Government taking the lion share of N13.402 billion and the State Governments got N6.798 billion.
The Local Government Councils received N5.241 billion and a total sum of N3.270 billion was shared to the benefiting States as 13 percent mineral derivation revenue.
Meanwhile, a statement by the Director, Press and Public Relations, Office of the Accountant General of the Federation, Bawa Mokwa, disclosed the cheering news that receipts from Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) recorded considerable increase.
However, there were low returns from Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), Value Added Tax (VAT), Excise Duty, Import Duty and CET Levies.
