The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.818 trillion, being June revenue, to the Federal Government, states and the Local Government Councils (LGs).
This is according to a communiqué from FAAC made available by Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF).
The revenue was shared at the July 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja on Friday night.
According to the communiqué, the N1.818 trillion total revenue comprised statutory revenue of N1.018 trillion, Value Added Tax (VAT) revenue of N631.507 billion and Electronic Money Transfer Levy (EMTL) of N29.165 billion.
It also comprised Exchange Difference revenue of N38.849 billion and N100 billion Augmentation from Non-Mineral revenue.
The communiqué indicated that a total gross revenue of N4.232 trillion was available in June.
“Total deduction for cost of collection was N162.786 billion while total transfers, interventions, refunds and savings was N2.251 trillion.
“Gross statutory revenue of N3.485 trillion was received for the month of June. This was higher than the sum of N2.094 trillion received in the month of May by N1.39 trillion,” it said.
It said that gross revenue of N678.165 billion was available from VAT in June 2025, lower than the N742.820 billion available in the month of May by N64.655 billion.
The communiqué indicated that from the N1.818 trillion total distributable revenue, the Federal Government received total sum of N645.383 billion and the state governments received a total sum of N607.417 billion.
It further said that from the N38.849 billion Exchange Difference revenue, the Federal Government received N19.147 billion and the state governments received N9.712 billion.
“The LGs received N7.487 billion, while the sum of N2.503 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
The communiqué said that the Federal Government received a total sum of N52.680 billion, the state governments received N26.720 billion and the LGs received N20.600 billion from the N100 billion Augmentation.
“In June, Companies Income Tax, Petroleum Profit Tax and EMTL increased significantly while Oil and Gas Royalty, VAT, Import Duty, Excise Duty and CET Levies decreased considerably,” it said. (NAN)
