The Federation Account Allocation Committee (FAAC) has distributed a total of N2.001 trillion as July 2025 revenue to the Federal Government, State Governments, and Local Government Councils.
The allocation was confirmed during FAAC’s August 2025 meeting held in Abuja.
The N2.001 trillion distributable revenue comprised N1.282 trillion from statutory revenue, N640.610 billion from Value Added Tax (VAT), N37.601 billion from the Electronic Money Transfer Levy (EMTL), and N39.745 billion from Exchange Difference.
The Director of Press and Public Relations in the Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, said in a communiqué issued by FAAC that the total gross revenue available in July 2025 was N3.836 trillion.
Total deductions for the cost of collection amounted to N152.681 billion, while total transfers, interventions, refunds, and savings stood at N1.683 trillion.
According to the communiqué, gross statutory revenue for July 2025 was N3.070 trillion, which was lower than the N3.485 trillion recorded in June 2025 by N415.108 billion.
Gross VAT revenue for July 2025 stood at N687.940 billion, higher than the N678.165 billion recorded in June 2025 by N9.775 billion.
From the total distributable revenue of N2.001 trillion, the Federal Government received N735.081 billion, State Governments received N660.349 billion, and Local Government Councils received N485.039 billion. Additionally, N120.359 billion (13% of mineral revenue) was shared as derivation revenue to benefiting states.
From the N1.282 trillion distributable statutory revenue, the Federal Government received N613.805 billion, State Governments received N311.330 billion, and Local Government Councils received N240.023 billion. A further N117.714 billion (13% of mineral revenue) was allocated to benefiting states as derivation revenue.
From the N640.610 billion VAT revenue, the Federal Government received N96.092 billion, State Governments received N320.305 billion, and Local Government Councils received N224.214 billion.
From the N37.601 billion EMTL revenue, the Federal Government received N5.640 billion, State Governments N18.801 billion, and Local Government Councils N13.160 billion.
From the N39.745 billion Exchange Difference, the Federal Government received N19.544 billion, State Governments N9.913 billion, and Local Government Councils N7.643 billion, while N2.643 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.
FAAC distributed a total sum of N1.818 trillion to the Federal Government, State Governments, and Local Government Councils as Federation Account revenue for the month of June 2025.
According to a recent statement by the Finance Minister, Wale Edun, the combined fiscal balance of the states has grown from N2.8 trillion to N7.1 trillion since 2023.