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From Adanna Nnamani, Abuja
The Federation Account Allocation Committee (FAAC) on Friday shared a total of N2.001trillion July 2025 revenue to the three tiers of government. The revenue, distributed at the FAAC meeting held in Abuja, comprised statutory revenue of N1.282trillion, Value Added Tax (VAT) revenue of N640.610billion, Electronic Money Transfer Levy (EMTL) revenue of N37.601billion and Exchange Difference of N39.745billion.
According to a communiqué issued at the end of the meeting, the gross revenue for July stood at N3.836trillion. From the amount, N152.681billion was deducted as cost of collection, while N1.683trillion went to transfers, interventions, refunds and savings.
Gross statutory revenue stood at N3.070trillion, lower than the N3.485trillion recorded in June by N415.108billion. VAT, however, rose to N687.940billion, higher than the June figure of N678.165b by N9.775b. From the total distributable revenue of N2.001trillion, the Federal Government received N735.081billion, states got N660.349b, while the local government councils shared N485.039b, and oil-producing states received N120.359b as 13 per cent derivation.
Further breakdown showed that from the statutory revenue of N1.282t, the Federal Government received N613.805b, states N311.330b, LGs N240.023b, while derivation revenue stood at N117.714b.
From VAT revenue of N640.610b, the Federal Government received N96.092b, states N320.305b, and LGs N224.214b. The EMTL component of N37.601billion was shared with the Federal Government receiving N5.640b, states N18.801b and LGs N13.160b.
Similarly, from the Exchange Difference of N39.745b, the Federal Government received N19.544b, states N9.913b, LGs N7.643b, while derivation revenue stood at N2.643billion.
The communiqué noted significant increases in Petroleum Profit Tax (PPT), Oil and Gas Royalty, EMTL and Excise Duty collections during the period, while VAT and Import Duty recorded marginal growth. Companies Income Tax (CIT) and CET Levies, however, declined.
