FAAC Disburses N1.578trn March Revenue to Federal, State, LGs

• The Federation Account Allocation Committee (FAAC) has disbursed N1.578 trillion to federal, state, and local governments for March 2025.

• This allocation marks the third consecutive monthly decline in revenue allocations, raising concerns about financial health amid growing inflationary pressures.

The FAAC has distributed a total of N1.578 trillion among the three tiers of government – federal, states, and local councils – as revenue generated in March 2025.

This allocation, confirmed during the April 2025 FAAC meeting in Abuja, marks the second consecutive month of decline in revenue shared by the committee.

According to the official communiqué, the total distributable revenue comprises N931.325 billion from statutory sources, N593.750 billion from VAT, N24.971 billion from the Electronic Money Transfer Levy (EMTL), and N28.711 billion from exchange rate differentials. Gross revenue for March stood at N2.411 trillion, with N85.376 billion deducted for collection costs and N747.180 billion earmarked for transfers, interventions, and refunds.

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READ ALSO: FAAC: FG, States, LGAs Share N1.703 Trillion January 2025 Revenue

The breakdown of the allocation shows the Federal Government receiving N528.696 billion, state governments getting N530.448 billion, and local government councils receiving N387.002 billion.

An additional N132.611 billion, representing 13 percent of mineral revenue, was distributed to oil-producing states as derivation. Despite the decline in net distributable revenue, statutory revenue for March recorded a slight increase, while VAT revenue declined.