FAAC Gives Figures, Disburses N1.659 Trillion To FG, States, LGs

By Ayodele Oni

The Federation Account Allocation Committee (FAAC) has received higher disbursable fund than in April.

The gross statutory revenue for the month was N2.094 trillion, showing a slight increase of N10.023 billion compared to the N2.084 trillion received in April. VAT revenue also rose significantly from N642.265 billion in April to N742.820 billion in May, marking an increase of N100.555 billion.

FAAC has therefore disbursed a total of N1.659 trillion to the Federal, State and Local Governments as revenue for May 2025.

This was announced at the FAAC meeting held in Abuja on Thursday, June 2025.

According to a communiqué issued at the end of the meeting, the total distributable revenue for May includes N863.895 billion from statutory revenue, N691.714 billion from Value Added Tax (VAT), N27.667 billion from Electronic Money Transfer Levy (EMTL), and N76.614 billion from Exchange Difference.

The document also revealed that gross revenue available in May stood at N2.942 trillion. Out of this amount, N111.908 billion was deducted as cost of collection, while N1.171 trillion was set aside for transfers, refunds, and other interventions.

Breakdown of the N1.659 trillion shared shows that the Federal Government received N538.004 billion, State Governments got N577.841 billion, while Local Government Councils received N419.968 billion. Additionally, N124.076 billion was shared to oil-producing states as 13% derivation revenue.

From the N863.895 billion statutory revenue, the Federal Government received N393.518 billion, states got N199.598 billion, and local councils received N153.881 billion. The derivation fund from this pool stood at N116.898 billion.

From VAT revenue of N691.714 billion, the Federal Government took N103.757 billion, the states got N345.857 billion, and the local councils received N242.100 billion.

On the EMTL revenue of N27.667 billion, the Federal Government received N4.150 billion, states got N13.833 billion, and the local councils received N9.683 billion.

Similarly, from the Exchange Difference of N76.614 billion, the Federal Government got N36.579 billion, states received N18.553 billion, local councils took N14.304 billion, while N7.178 billion went to the oil-producing states as derivation.

The communiqué also noted that revenue from Companies Income Tax (CIT), VAT, and Import Duty increased significantly during the month, while Petroleum Profit Tax (PPT), Oil and Gas Royalties, CET Levies, and EMTL recorded declines. Excise Duty showed a marginal rise.