FG, States, LGs Share N2.225trn Revenue for August – FAAC
The Federation Account Allocation Committee (FAAC) has shared a total of N2.225 trillion among the federal, state, and local governments as statutory allocation for August 2025.
The decision was reached at FAAC’s September meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja. The allocation came from a gross total revenue of N3.635 trillion, comprising statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange difference.
Breakdown of the distributable amount shows that the federal government received N810.047 billion, the states N709.831 billion, and the local government councils N522.228 billion. In addition, oil-producing states received N183.012 billion as 13 percent derivation revenue.
FAAC also disclosed that N124.839 billion was set aside for collection costs, while N1.285 trillion was earmarked for transfers, interventions, and refunds.
VAT, Statutory Revenues
The communiqué issued after the meeting indicated that VAT revenue for the month stood at N722.619 billion, up from N687.940 billion in July – an increase of N34.679 billion. From the VAT pool, the federal government got N100.935 billion, states N336.452 billion, and LG councils N235.516 billion after deductions for costs and interventions.
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On the other hand, gross statutory revenue dipped to N2.838 trillion, lower than July’s N3.070 trillion by N231.913 billion. After statutory deductions, the distributable balance of N1.478 trillion was shared among the tiers of government, with the federal government receiving N684.462 billion, states N347.168 billion, LGs N267.652 billion, and oil-producing states N179.311 billion.
EMTL, Exchange Difference
The committee further disclosed that N33.685 billion from the EMTL was distributed, with the federal government receiving N4.851 billion, states N16.169 billion, and LGs N11.318 billion, while N1.347 billion was deducted as collection cost.
Additionally, N41.284 billion from exchange difference was shared, with the federal government getting N19.799 billion, states N10.042 billion, LGs N7.742 billion, and oil-producing states N3.701 billion.
FAAC noted significant increases in oil and gas royalty, VAT, and CET levies, while Petroleum Profit Tax (PPT), import duty, EMTL, companies income tax (CIT), and excise duty recorded declines.
Minister’s Remarks
In his opening remarks, Minister Wale Edun commended FAAC members for their diligence in resource allocation and emphasized that ongoing economic reforms are beginning to yield positive results.
He assured Nigerians that “better days are ahead,” urging stakeholders to prioritize prudent management of public resources to ensure that national wealth is effectively used to meet citizens’ needs.
By PRNigeria
