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FAAC has shared a total sum of ₦1.678 trillion, representing the February 2025 Federation Account Revenue, to the Federal, State, and Local Governments.
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The revenue was distributed at the March 2025 FAAC meeting held in Abuja, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
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The total distributable revenue comprised distributable statutory revenue, distributable Value Added Tax (VAT) revenue, Electronic Money Transfer Levy (EMTL) revenue.
The Federation Account Allocation Committee (FAAC) has shared a total sum of ₦1.678 trillion, representing the February 2025 Federation Account Revenue, to the Federal, State, and Local Governments.
The revenue was distributed at the March 2025 FAAC meeting held in Abuja, which was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
According to a communiqué issued by FAAC, the total distributable revenue comprised distributable statutory revenue of ₦827.633 billion, distributable Value Added Tax (VAT) revenue of ₦609.430 billion, Electronic Money Transfer Levy (EMTL) revenue of ₦35.171 billion, Solid Minerals revenue of ₦28.218 billion, and Augmentation of ₦178 billion.
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The communiqué stated that a total gross revenue of ₦2.344 trillion was available for the month of February 2025.
The total deduction for cost of collection was ₦89.092 billion, while total transfers, interventions, refunds, and savings amounted to ₦577.097 billion.
FAAC: FG, States, LGAs Share N1.703 Trillion January 2025 Revenue
The Federal Government, States, and Local Government Councils have shared a total of N1.703 trillion from the Federation Account revenue for January 2025.
This figure represents a notable 19.6% increase, or N279 billion, compared to the N1.424 trillion shared from December 2024 revenue.
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