The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.578 trillion among the federal, state, and local governments as revenue allocation for March 2025.
The announcement followed FAAC’s April meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, held at the Ministry’s headquarters in Abuja.
According to a communiqué issued after the meeting, the shared revenue was drawn from a gross total of N2.411 trillion, comprising gross statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference.
From the N1.578 trillion distributable revenue, the federal government received N528.696 billion, the 36 states got N530.448 billion, while local government councils were allocated N387.002 billion. Oil-producing states received N132.611 billion as 13 percent derivation revenue.
A breakdown of the allocations showed that N85.376 billion was earmarked for collection costs, while N747.180 billion went to transfers, interventions, and refunds.
VAT revenue for the month stood at N637.618 billion, a decrease of N16.838 billion compared to the previous month. From this amount, N25.505 billion was allocated for collection costs, and N18.363 billion for transfers and refunds. The balance of N593.750 billion was distributed as follows: Federal Government – N89.063 billion; States – N296.875 billion; Local Governments – N207.813 billion.
Gross statutory revenue for March amounted to N1.718 trillion, an increase of N65.422 billion over the N1.653 trillion recorded in February. Of this, N58.831 billion was allocated for collection costs and N728.817 billion for transfers and refunds. The remaining N931.325 billion was shared among the three tiers of government: Federal Government – N422.485 billion; States – N214.290 billion; Local Governments – N165.209 billion; Derivation (13% for mineral-producing states) – N129.341 billion.
Additionally, N26.011 billion from the Electronic Money Transfer Levy was shared, with the federal government receiving N3.746 billion, states N12.485 billion, and local governments N8.740 billion. The cost of collection amounted to N1.040 billion.
From the Exchange Difference, N28.711 billion was distributed as follows: Federal Government – N13.402 billion; States – N6.798 billion; Local Governments – N5.241 billion; and Oil-Producing States – N3.270 billion.
The communiqué noted a significant increase in Petroleum Profit Tax (PPT) and Companies Income Tax (CIT), while receipts from Oil and Gas Royalties, VAT, EMTL, Excise Duty, Import Duty, and CET Levies declined.
In total, the distributable revenue for March 2025 comprised N931.325 billion from statutory revenue, N593.750 billion from VAT, N24.971 billion from EMTL, and N28.711 billion from the Exchange Difference.
