• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs, ICPC and the Audit of Conscience

      Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria, Belarus Forge Alliance to Combat Smuggling, Facilitate Trade

      President Bola Ahmed Tinubu and CG Customs, Bashir Adewale Adeniyi

      Tinubu Hails Customs Boss Wale Adeniyi on Historic Election as WCO…

      WTO Lauds Nigeria Customs for Embracing Global Trade Standards

  • National
    • 162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of…

      MUSWEN Muslim Ummah of South West

      MUSWEN Renews Call for Shariah Courts to Regulate Affairs of Muslims

      Ribadu Proposes Reintegration of Military Veterans to Bolster National Security

      DICON signs MoU with Saudi firm

      DICON, Saudi firm sign MoU to produce security drones, satellites in…

      Chief of Army Staff, Lt Gen Faruk Yahaya

      Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation…

    • Government
      • MUSWEN Muslim Ummah of South West

        MUSWEN Renews Call for Shariah Courts to Regulate Affairs of Muslims

        Corporate Affairs Commission

        CAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria

        Employment: ICPC Secures Conviction of FAAN Staff

        Staff of PRNigeria with federal lawmakers

        Federal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment

        G7 Countries

        Iran Must Never Possess Nuclear Weapons – G7 Declare

  • Security
    • NAF

      NAF Hosts Nationwide Parley to Honour Veterans’ Courage, Sacrifice

      NIPSS Directing Staff behind the Queries Barrister Nima Salman Mann and Rear Admiral A.A. Mustapha

      Cybercrime Allegation: PRNigeria Petitions Police Against NIPSS Officials

      162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of…

      Police Officer

      Police Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader…

      Ribadu Proposes Reintegration of Military Veterans to Bolster National Security

  • Features
    • Bashir Adewale Adeniyi MFR

      Adeniyi: Lifting Nigeria to the Pinnacle of Global Customs Authority

      Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk…

      NYSC Corps Members in Camp

      The Burden Too Many Nigerian Youths Bear Alone

      Combating Deepfake Videos: A Fight for Nigeria’s Soul By Mukhtar Ya’u…

      Domestic Violence

      Marriage and the Silent Wounds Within Homes By Hafsat Ibrahim

  • State
    • MUSWEN Muslim Ummah of South West

      MUSWEN Renews Call for Shariah Courts to Regulate Affairs of Muslims

      Police Officer

      Police Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader…

      Customs Hands Over N172m Worth of Cannabis to NDLEA in Ogun,…

      Combating Deepfake Videos: A Fight for Nigeria’s Soul By Mukhtar Ya’u…

      IEDs found at the bridge

      Military Foils Terrorists’ Bomb Attack, Discovers 56 IEDs on Marte–Dikwa Bridge…

  • Event
    • 162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE…

      SCN NGO signs partnership with PRNIGERIA

      SCN NGO Seals Partnership with PRNigeria to Amplify its Humanitarian Projects

      NELFUND

      NELFUND Warns Students Against Fake Loan Application Portal

      EFCC Witness: Yahaya Bello Had No Property Dealings With EFAB

    • PR Nigeria Award
  • E-Paper
Home Economy FAAC Shares N1.7trn to FG, States, LGs in February
  • Economy
  • National

FAAC Shares N1.7trn to FG, States, LGs in February

By
Prnigeria
-
March 22, 2025

FAAC Shares N1.7trn to FG, States, LGs in February

About N1.7 trillion in revenue by the Federal Account Allocation Committee (FAAC) has been shared by the federal, state and local governments in February 2025.

A statement by the Director (Press and Public Relations), Bawa Mokwa on Saturday, said a total sum of N1.678 trillion was shared in the month under review.

The revenue was shared at the March 2025 FAAC meeting held in Abuja.

The meeting was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.

The total distributable revenue of N1.678 trillion comprised distributable statutory revenue of N827.633 billion, distributable Value Added Tax (VAT) revenue of N 609.430  billion, Electronic Money Transfer Levy (EMTL) revenue of N35.171 billion, Solid Minerals revenue of N28.218 billion and Augmentation of N178 billion.

According to a communiqué issued by the Federation Account Allocation Committee (FAAC),  total gross revenue of N2.344 trillion was available in the month of February 2025.  The total deduction for cost of collection was N89.092 billion while total transfers, interventions, refunds and savings were N577.097 billion.

The communiqué stated that gross statutory revenue of N1.653 trillion was received for the month of February 2025. This was lower than the sum of N1.848 trillion received in the month of January  2025 by N194.664 billion.

 

Gross revenue of N654.456 billion was available from the Value Added Tax (VAT) in February 2025.  This was lower than the N771.886 billion available in the month of January  2025 by N117.430 billion.

 

Read Also:

  • NAF Hosts Nationwide Parley to Honour Veterans’ Courage, Sacrifice
  • Cybercrime Allegation: PRNigeria Petitions Police Against NIPSS Officials
  • ‎FACT-CHECK: Was a Man Trapped in Ceiling after Trying to Hack FCMB Bank?

The communiqué stated that from the total distributable revenue of N1.678 trillion, the Federal Government received a total sum of N569.656 billion and the State Government received a total sum of N562.195 billion.

 

The Local Government Councils received a total sum of N410.559 billion and a total sum of N136.042 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

 

On the N827.633 billion distributable statutory revenue, the communiqué stated that the Federal Government received N366.262 billion and the State Governments received N185.773 billion.

 

The Local Government Councils received N143.223 billion and the sum of N132.374 billion (13% of mineral revenue) was shared with the benefiting States as derivation revenue.

 

From the N609.430 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N91.415 billion, the State Governments received N304.715 billion and the Local Government Councils received N213.301 billion.

 

A total sum of N5.276 billion was received by the Federal Government from the N35.171 billion Electronic Money Transfer Levy (EMTL).  The State Governments received N17.585 billion and the Local Government Councils received N12.310 billion.

 

From the N28.218 billion Solid Minerals revenue, the Federal Government received N12.933 billion and the State Governments received N6.560 billion.

 

The Local Government Councils received N5.057 billion and a total sum of N3.668 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

 

The Augmentation of N178 billion was shared as follows: the Federal Government received N93.770 billion, the State Governments received N47.562 billion and the Local Government Councils received N36.668 billion.

 

In February 2025, Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL), increased significantly while Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty,  Import Duty and CET Levies recorded decreases.

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • faac
  • February
  • March
  • Revenue
Previous articlePHOTO: Troops Recover 900 Cattle and Sheep from Bandits in Intense Zamfara Gunfight
Next articleFEATURE: Because Nigeria Customs Also Cares for Students
Prnigeria
Prnigeria

RELATED ARTICLESMORE FROM AUTHOR

162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of National Unity

MUSWEN Muslim Ummah of South West

MUSWEN Renews Call for Shariah Courts to Regulate Affairs of Muslims

Ribadu Proposes Reintegration of Military Veterans to Bolster National Security

DICON signs MoU with Saudi firm

DICON, Saudi firm sign MoU to produce security drones, satellites in Nigeria

Chief of Army Staff, Lt Gen Faruk Yahaya

Ex-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ Welfare

Prioritise Troops’ Welfare, Mission Over Personal Gain – COAS Charges Army Commanders

Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk Bala

NYSC Corps Members in Camp

The Burden Too Many Nigerian Youths Bear Alone

Corporate Affairs Commission

CAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria

Employment: ICPC Secures Conviction of FAAN Staff

President & Chairman of Governing Council, Dr. Ike Neliaku

NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE Africa Awards

Staff of PRNigeria with federal lawmakers

Federal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment

Recent Posts

  • NAF Hosts Nationwide Parley to Honour Veterans’ Courage, Sacrifice
  • Cybercrime Allegation: PRNigeria Petitions Police Against NIPSS Officials
  • ‎FACT-CHECK: Was a Man Trapped in Ceiling after Trying to Hack FCMB Bank?
  • FACT-CHECK: Did a Man Catch His Wife and Driver “Knacking” in a Hotel Room?
  • 162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of National Unity
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
NAF Hosts Nationwide Parley to Honour Veterans’ Courage, SacrificeCybercrime Allegation: PRNigeria Petitions Police Against NIPSS Officials‎FACT-CHECK: Was a Man Trapped in Ceiling after Trying to Hack FCMB Bank?FACT-CHECK: Did a Man Catch His Wife and Driver “Knacking” in a Hotel Room?162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of National UnityAdeniyi: Lifting Nigeria to the Pinnacle of Global Customs AuthorityMUSWEN Renews Call for Shariah Courts to Regulate Affairs of MuslimsPolice Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader AbductedRibadu Proposes Reintegration of Military Veterans to Bolster National SecurityDICON, Saudi firm sign MoU to produce security drones, satellites in NigeriaEx-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ WelfarePrioritise Troops’ Welfare, Mission Over Personal Gain - COAS Charges Army CommandersNigeria's Growth Numbers Tell Only Half the Story By Umar Farouk BalaThe Burden Too Many Nigerian Youths Bear AloneCAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria
X whatsapp