A total of N1.659 trillion, being May 2025 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Areas.
The revenue was shared at the June 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja, according to a statement issued by the Office of the Accountant-General of the Federation, on Wednesday.
A statement by the Director of Information, Office of the Accountant General of the Federation, Bawa Mokwa said the N1.659 trillion total distributable revenue comprised distributable statutory revenue of N863.895 billion, distributable Value Added Tax (VAT) revenue of N691.714 billion, electronic money transfer levy revenue of N27.667 billion and exchange rate difference revenue of N76.614 billion.
A total gross revenue of N2.942 trillion was available in the month of May 2025. Total deduction for cost of collection was N111.908 billion while total transfers, interventions and refunds for the period was N1.171 trillion.
According to the statement, gross statutory revenue of N2.094 trillion was received for the month of May 2025, higher than N2.084 trillion received in April 2025 by N10.023 billion.
A gross total of N742.820 billion was available as revenue from Valued Added Tax (VAT) in May 2025, higher than N642.265 billion available the previous month by N100.555 billion.
The statement further stated that from the N1.659 trillion total distributable revenue, the Federal Government received N538.004 billion while state governments received N577.841 billion.
Local government councils received a total of N419.968 billion, while the sum of N124.076 billion, being13% of mineral revenue was shared to the benefiting states as derivation.
On the N863.895 billion distributable statutory revenue, the statement said the federal government received N393.518 billion and N199.598 billion shared to state governments.
The LGAs received N153.881 billion and the sum of N116.898 billion, 13% of mineral revenue, was shared to the benefiting states as derivation revenue.
Out of the N691.714 billion distributable VAT revenue, the federal government received N103.757 billion, the states received N345.857 billion while the local government areas received N242.100 billion.
A total sum of N4.150 billion was received by the federal government from the N27.667 billion electronic transfer levy, state governments received N13.833 billion and LGAs, N9.683 billion.
From the N76.614 billion exchange rate difference revenue, the federal government received N36.579 billion and the state governments, N18.553 billion.
Local governments got N14.304 billion, while the sum of N7.178 billion was shared as 13% of mineral revenue to the benefiting states.
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