The Federation Account Allocation Committee (FAAC) has distributed a total of ₦1.659 trillion among the federal, state, and local governments as revenue for May 2025.
This was disclosed in a communiqué issued on Wednesday after the June FAAC meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja.
The disbursed revenue was drawn from a gross total of ₦2.942 trillion, comprising statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange difference income.
According to the communiqué, the Federal Government received ₦538.004 billion, the states ₦577.841 billion, and local government councils ₦419.968 billion. An additional ₦124.076 billion was shared with oil-producing states as 13% derivation.
Also, ₦111.908 billion was allocated as the cost of revenue collection, while ₦1.171 trillion was set aside for transfers, interventions, and refunds.
Revenue from VAT for May stood at ₦742.820 billion, reflecting a ₦100.555 billion increase from April. After deductions, ₦691.714 billion was shared: the Federal Government received ₦103.757 billion, states ₦345.857 billion, and local governments ₦242.100 billion.
Statutory revenue increased slightly to ₦2.094 trillion from ₦2.084 trillion in April. After deductions, ₦863.895 billion was distributed, with ₦393.518 billion going to the Federal Government, ₦199.598 billion to states, ₦153.881 billion to local governments, and ₦116.898 billion to oil-producing states as derivation.
The EMTL yielded ₦28.820 billion, of which the Federal Government got ₦4.150 billion, states ₦13.833 billion, and local councils ₦9.683 billion. A further ₦76.614 billion from exchange rate gains was also shared.
The communiqué noted that while Companies Income Tax (CIT), VAT, and import duties recorded growth, revenues from Petroleum Profit Tax (PPT), CET levies, oil and gas royalties, and EMTL declined. Excise duty recorded a marginal increase.
Minister Edun stressed the importance of transparency, accountability, and efficient resource utilization in revenue distribution. He commended FAAC members for their continued support for economic growth and national development.
