FAAC has shared a total of ₦2.001 trillion July revenue among the three tiers of government. The Federal Government received ₦735.081 billion, states ₦660.349 billion, and LGs ₦485.039 billion.
The Federation Account Allocation Committee (FAAC) has distributed ₦2.001 trillion as July 2025 revenue among the Federal, State, and Local Governments.
According to a communiqué issued after its August meeting, the distributable sum 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.
“From the total distributable revenue of ₦2.001 trillion, the Federal Government received ₦735.081 billion, states ₦660.349 billion, and LGs ₦485.039 billion. ₦120.359 billion (13% of mineral revenue) was shared to benefiting states as derivation revenue,” the communiqué stated.
It added that July’s gross revenue stood at ₦3.836 trillion, with ₦152.681 billion deducted as cost of collection and ₦1.683 trillion for transfers and savings.
FAAC noted increases in Petroleum Profit Tax, Oil and Gas Royalties, EMTL, and Excise Duty, while Companies Income Tax and CET levies declined.