The Federation Account Allocation Committee (FAAC) has shared a total of N2.001 trillion among the Federal Government, states, and local government councils as July 2025 revenue, marking the second consecutive month of growth in allocations.
According to a communiqué issued after the FAAC meeting in Abuja and signed by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, the figure represents a 10 percent increase from the N1.818 trillion shared in June, a difference of N183 billion.
The communiqué explained that the distributable revenue comprised statutory revenue of N1.327 trillion, Value Added Tax (VAT) of N640.610 billion, Electronic Money Transfer Levy (EMTL) of N37.601 billion, and an exchange difference of N39.745 billion.
Total gross revenue in July stood at N3.837 trillion, out of which N152.681 billion was deducted for the cost of collection, while N1.683 trillion went into transfers, interventions, refunds, and savings. The gross statutory revenue for July was N3.070 trillion, lower by N415.108 billion compared with N3.485 trillion recorded in June.
VAT receipts, however, rose slightly to N687.940 billion from N678.165 billion in June, showing a gain of N9.775 billion.
From the N2.001 trillion distributable pool, the Federal Government received N735.081 billion, states got N660.349 billion, and local government councils shared N485.039 billion.
A further N120.359 billion, representing 13 percent of mineral revenue, was shared to oil-producing states as derivation revenue.
Breaking down the revenue sources, the communiqué disclosed that from the N640.610 billion VAT revenue, the Federal Government received N96.092 billion, states N320.305 billion, and local councils N224.214 billion. From EMTL collections of N37.601 billion, the Federal Government received N5.640 billion, states N18.801 billion, and local councils N13.160 billion.
On the N39.745 billion exchange difference, the Federal Government got N19.544 billion, states N9.912 billion, and local councils N7.643 billion, while N2.646 billion (13 percent of mineral revenue) was shared to benefiting states as derivation revenue.
The FAAC further noted trends in revenue performance, stating that in July 2025, Petroleum Profit Tax, Oil and Gas Royalty, Electronic Money Transfer Levy, and Excise Duty increased significantly, while Value Added Tax and Import Duty recorded marginal growth. However, Companies Income Tax and Customs and Excise Levies recorded decreases.
The July allocation is expected to support governments at all levels in meeting their obligations, including salaries, debt servicing, and capital projects.
