The Federation Account Allocation Committee (FAAC) has shared a total sum of ₦1.818 trillion, being revenue generated in June, to the Federal Government, state governments, and Local Government Councils (LGs).
This is according to a communiqué from FAAC, made available by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation (OAGF).
The revenue was shared at the July 2025 FAAC meeting held in Abuja on Friday night.
According to the communiqué, the ₦1.818 trillion total distributable revenue comprised statutory revenue of ₦1.018 trillion, Value Added Tax (VAT) revenue of ₦631.507 billion, and Electronic Money Transfer Levy (EMTL) of ₦29.165 billion.
It also included Exchange Difference revenue of ₦38.849 billion and ₦100 billion augmentation from non-mineral revenue.
The communiqué indicated that total gross revenue available in June stood at ₦4.232 trillion.
“Total deduction for cost of collection was ₦162.786 billion, while total transfers, interventions, refunds, and savings amounted to ₦2.251 trillion.
“Gross statutory revenue of ₦3.485 trillion was received in June, higher than the ₦2.094 trillion received in May by ₦1.39 trillion,” it added.
It noted that gross revenue from VAT in June was ₦678.165 billion, which was lower than the ₦742.820 billion received in May by ₦64.655 billion.
Out of the ₦1.818 trillion total distributable revenue, the Federal Government received ₦645.383 billion, state governments ₦607.417 billion, and LGs ₦444.853 billion, while ₦120.759 billion (13 per cent of mineral revenue) was shared with benefiting states as derivation revenue.
On the ₦1.018 trillion statutory revenue, the Federal Government received ₦474.455 billion, state governments ₦240.650 billion, and LGs ₦185.531 billion. Derivation revenue of ₦118.256 billion was also distributed.
From the ₦631.507 billion VAT revenue, the Federal Government received ₦94.726 billion, states ₦315.754 billion, and LGs ₦221.027 billion.
From the ₦29.165 billion EMTL, the Federal Government received ₦4.375 billion, state governments ₦14.582 billion, and LGs ₦10.208 billion.
The ₦38.849 billion Exchange Difference revenue was shared as follows: Federal Government ₦19.147 billion, states ₦9.712 billion, LGs ₦7.487 billion, and ₦2.503 billion to benefiting states as derivation revenue.
From the ₦100 billion augmentation, the Federal Government received ₦52.680 billion, states ₦26.720 billion, and LGs ₦20.600 billion.
“In June, Companies Income Tax, Petroleum Profit Tax, and EMTL increased significantly, while Oil and Gas Royalty, VAT, Import Duty, Excise Duty, and CET Levies decreased considerably,” the communiqué stated.