The Federation Account Allocation Committee (FAAC) has disbursed a total of ₦1.659 trillion as May 2025 revenue to the three tiers of government. This amount was drawn from a gross revenue of ₦2.942 trillion generated in the same month.
From the total available revenue, ₦111.908 billion was deducted to cover collection costs. Transfers, interventions and refunds stood at ₦1.171 trillion. After these deductions, ₦1.659 trillion was left for distribution among the federal, state and local governments.
Out of the distributable revenue, the federal government received ₦538.004 billion. The state governments shared ₦577.841 billion, while local governments received ₦419.968 billion. States benefiting from oil derivation received a further ₦124.076 billion as 13% mineral revenue.
Breakdown of Revenue Components
The total ₦1.659 trillion shared comprised several revenue streams. These included ₦863.895 billion from statutory revenue, ₦691.714 billion from Value Added Tax (VAT), ₦27.667 billion from the Electronic Money Transfer Levy (EMTL), and ₦76.614 billion from exchange rate differences.
From the ₦863.895 billion statutory revenue, the federal government got ₦393.518 billion. The states took ₦199.598 billion, and local governments received ₦153.881 billion. An additional ₦116.898 billion was paid as 13% derivation revenue to oil-producing states from this amount.
For the ₦691.714 billion VAT revenue, the federal government received ₦103.757 billion. States received ₦345.857 billion, while local governments got ₦242.100 billion. This marked a rise from the ₦642.265 billion collected from VAT in April, showing an increase of ₦100.555 billion.
Other Revenue Sources and Derivation Figures
The federal government received ₦4.150 billion from the ₦27.667 billion collected through EMTL. The states received ₦13.833 billion, and the local governments got ₦9.683 billion.
Exchange Difference revenue brought in ₦76.614 billion. Out of this, the federal government received ₦36.579 billion, states received ₦18.553 billion, and local governments got ₦14.304 billion. A separate ₦7.178 billion was disbursed to oil-producing states as part of the 13% mineral derivation from this category.
The communiqué released after the FAAC meeting in Abuja showed a modest increase in gross statutory revenue from April to May 2025. May’s gross statutory inflow was ₦2.094 trillion, slightly higher than April’s ₦2.084 trillion by ₦10.023 billion.
There were notable revenue changes across various sources. Companies Income Tax (CIT), VAT and Import Duty recorded increases. Excise Duty also rose slightly. However, revenues from CET levies, Petroleum Profit Tax (PPT), Oil and Gas Royalty, and EMTL declined in May.
Rate, Like 👍, Comment, share this article and Follow us on our social media handles.
WhatsApp Channel
Telegram Channel
