The Federation Account Allocation Committee (FAAC) has shared a total sum of ₦2.001 trillion as July 2025 revenue among the Federal Government, State Governments, and Local Government Councils at its August 2025 meeting held in Abuja.
The ₦2.001 trillion distributable revenue comprised ₦1.282 trillion from statutory revenue, ₦640.610 billion from Value Added Tax (VAT), ₦37.601 billion from the Electronic Money Transfer Levy (EMTL), and ₦39.745 billion from Exchange Difference.
Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation (OAGF), said in a communiqué issued by FAAC that the total gross revenue available in July 2025 was ₦3.836 trillion.
Total deductions for the cost of collection amounted to ₦152.681 billion, while total transfers, interventions, refunds, and savings stood at ₦1.683 trillion.
According to the communiqué, gross statutory revenue for July 2025 was ₦3.070 trillion, which was lower than the ₦3.485 trillion recorded in June 2025 by ₦415.108 billion.
Gross VAT revenue for July 2025 stood at ₦687.940 billion, higher than the ₦678.165 billion recorded in June 2025 by ₦9.775 billion.
From the total distributable revenue of ₦2.001 trillion, the Federal Government received ₦735.081 billion, State Governments received ₦660.349 billion, and Local Government Councils received ₦485.039 billion. Additionally, ₦120.359 billion (13% of mineral revenue) was shared as derivation revenue to benefiting states.
From the ₦1.282 trillion distributable statutory revenue, the Federal Government received ₦613.805 billion, State Governments received ₦311.330 billion, and Local Government Councils received ₦240.023 billion. A further ₦117.714 billion (13% of mineral revenue) was allocated to benefiting states as derivation revenue.
From the ₦640.610 billion VAT revenue, the Federal Government received ₦96.092 billion, State Governments received ₦320.305 billion, and Local Government Councils received ₦224.214 billion.
From the ₦37.601 billion EMTL revenue, the Federal Government received ₦5.640 billion, State Governments ₦18.801 billion, and Local Government Councils ₦13.160 billion.
From the ₦39.745 billion Exchange Difference, the Federal Government received ₦19.544 billion, State Governments ₦9.913 billion, and Local Government Councils ₦7.643 billion, while ₦2.643 billion (13% of mineral revenue) was allocated to benefiting states as derivation revenue.
The communiqué further noted that in July 2025, Petroleum Profit Tax (PPT), Oil and Gas Royalties, EMTL, and Excise Duty recorded significant increases, while VAT and Import Duty rose marginally. However, Companies Income Tax (CIT) and CET Levies recorded decreases.