By THEANALYSTNG
The Federation Account Allocation Committee (FAAC), at its May 2025 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1. 681Trillion to the three tiers of government as Federation Allocation for the month of April 2025 from a gross total of N2.848 Trillion.
From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Exchange Difference, the Federal Government received N565.307 Billion, the States received N556.741 Billion, the Local Government Councils got N406.627 Billion, while the Oil Producing States received N152.553 Billion as Derivation, (13% of Mineral Revenue).
The sum of N101.051 Billion was given for the cost of collection, while N1.066 Trillion was allocated for Transfers Intervention and Refunds.
The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of April 2025, was N642.265 Billion as against N637.618 Billion distributed in the precee ding month, resulting in an increase of N4.647 Billion.
From that amount, the sum of N25.691Billion was allocated for the cost of collection and the sum of N18.497 Billion given for Transfers, Intervention and Refunds. The remaining sum of N598.077 Billion was distributed to the three tiers of government, of which the Federal Government got N89.712 Billion, the States received N299.039 Billion and Local Government Councils got N209.327 Billion.
Accordingly, the Gross Statutory Revenue of N2.084 Trillion received for the month was higher than the sum of N1.718 Trillion received in the previous month by N365.595 Billion. From the stated amount, the sum of N73.741 Billion was allocated for the cost of collection and a total sum of N1.047 Trillion for Transfers, Intervention and Refunds.
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The remaining balance of N962.882 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N431.307 Billion, States received N218.765 Billion, the sum of N168.659 Billion was allocated to LGCs and N144.151 Billion was given to Derivation Revenue (13% Mineral producing States).
Also, out of the sum of N40.481 Billion from Electronic Money Transfer Levy (EMTL), the sum of N38.862 Billion was distributed to the three (3) tiers of government as follows: the Federal Government received N5.829 Billion, States got N19.431 Billion, Local Government Councils received N13.602 Billion. The remaining balance of N1.619 Billion was allocated for Cost of Collection.
The Communique also mentioned the sum of N81.407 Billion from Exchange Difference which was distributed to the three tiers of Government as follows: Federal government got N38.459 Billion, the State received N19.507 Billion, the LGCs got N15.039 Billion, while the Oil producing States received N8.402 Billion.
Petroleum Profit Tax (PPT), Oil and Gas Royalty, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Excise Duty, Import Duty and CET Levies increased significantly, while Company Income Tax (CIT) recorded a decrease.
According to the Communique, the total revenue distributable for the current month of April 2025, was drawn from Statutory Revenue of N962.882 Billion, Value Added Tax (VAT) of N598.077 Billion, N38.862 Billion from Electronic Money Transfer Levy (EMTL) and the sum of N81.407 Billion from Exchange Difference, bringing the total distributable amount for the month to N1.681Trillion.
Ealier in his opening remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, emphasized that domestic revenue mobilisation is a critical component of Nigeria’s long-term path to sustainable development financing.
He thanked the Federation Allocation Account Committee (FAAC) for their resilience in the discharge of their duties
