The Federation Account Allocation Committee has announced the disbursement of N1.578 trillion as the revenue generated in March 2025 to the Federal Government, State Governments, and Local Government Councils.
This was disclosed in a communiqué issued after the FAAC meeting held on Tuesday in Abuja.
The shared revenue comprises N931.325 billion in statutory revenue, N593.750 billion from Value Added Tax (VAT), N24.971 billion from the Electronic Money Transfer Levy (EMTL), and N28.711 billion from Exchange Difference revenue.
The communiqué noted that a total gross revenue of N2.411 trillion was available in March 2025.
Out of this, N85.376 billion was deducted for the cost of collection, while N747.180 billion was allocated for transfers, interventions, and refunds.
According to FAAC, the gross statutory revenue of N1.718 trillion recorded in March was higher than the N1.653 trillion generated in February 2025, marking an increase of N65.422 billion.
However, VAT revenue for March stood at N637.618 billion, representing a decline of N16.838 billion compared to N654.456 billion recorded in February.
From the total distributable revenue of N1.578 trillion, the Federal Government received N528.696 billion, while state governments received N530.448 billion.
Local Government Councils received N387.002 billion.
Additionally, N132.611 billion, representing 13% of mineral revenue, was disbursed to oil-producing states as derivation revenue.
The Federal Government received N422.485 billion, State Governments received N214.290 billion, Local Governments received N165.209 billion and Derivation revenue to oil-producing states was N129.341 billion.
From the N593.750 billion VAT pool:
The Federal Government received N89.063 billion, State Governments received N296.875 billion and Local Governments received N207.813 billion.
The N24.971 billion EMTL was shared as follows: Federal Government: N3.746 billion, State Governments: N12.485 billion and Local Governments: N8.740 billion.
From the N28.711 billion Exchange Difference revenue: Federal Government: N13.402 billion, State Governments: N6.798 billion, Local Governments: N5.241 billion and Derivation revenue: N3.270 billion.
The communiqué also highlighted that, “In March 2025, Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased considerably while Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), Value Added Tax (VAT), Excise Duty, Import Duty and CET Levies recorded decreases.”