The Federal Government, state governments, and local councils have shared a total of ₦1.659 trillion as revenue from the Federation Account for May 2025.
This was disclosed in a communiqué issued after the Federation Account Allocation Committee (FAAC) meeting held in Abuja on Wednesday, June 2025.
The shared amount includes ₦863.90 billion from statutory revenue, ₦691.71 billion from Value Added Tax (VAT), ₦27.67 billion from the Electronic Money Transfer Levy (EMTL), and ₦76.61 billion from Exchange Difference revenue.
According to FAAC, the gross revenue for May stood at ₦2.942 trillion. However, deductions for collection costs amounted to ₦111.91 billion, while transfers, refunds, and interventions took ₦1.171 trillion, leaving ₦1.659 trillion for distribution.
Breakdown of Revenue Allocation
Federal Government: ₦538.00 billion
State Governments: ₦577.84 billion
Local Government Councils: ₦419.97 billion
13% Derivation Revenue: ₦124.08 billion allocated to oil-producing states
From the ₦863.90 billion statutory revenue, the Federal Government received ₦393.52 billion, states got ₦199.60 billion, LGAs received ₦153.88 billion, and ₦116.90 billion went to derivation states.
From VAT revenue of ₦691.71 billion:
Federal Government received ₦103.76 billion
States got ₦345.86 billion
LGAs collected ₦242.10 billion
For EMTL revenue of ₦27.67 billion:
Federal Government got ₦4.15 billion
States received ₦13.83 billion
LGAs got ₦9.68 billion
From the ₦76.61 billion Exchange Difference:
Federal Government received ₦36.58 billion
States got ₦18.55 billion
LGAs received ₦14.30 billion
₦7.18 billion was allocated as derivation revenue
Revenue Trends
The report highlights significant increases in Companies Income Tax (CIT), VAT, and Import Duty for May 2025. However, there were notable declines in Petroleum Profit Tax (PPT), Oil and Gas Royalties, CET Levies, and EMTL. Excise Duty recorded only a marginal increase.
