The Federation Account Allocation Committee (FAAC), chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has announced the distribution of N1.578 trillion to the three tiers of government as federation revenue for March 2025. This was disclosed during the Committee’s April 2025 meeting. The total gross revenue for the month stood at N2.411 trillion.
The allocation comprised revenues from Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference. From the total distributable amount, the Federal Government received N528.696 billion, State Governments received N530.448 billion, and Local Government Councils got N387.002 billion. Oil-producing states also received N132.611 billion as 13% derivation from mineral revenue.
A breakdown of the allocations shows:
• Cost of Collection: N85.376 billion
• Transfers, Interventions & Refunds: N747.180 billion
Value Added Tax (VAT):
Gross VAT revenue for March 2025 was N637.618 billion, reflecting a decline of N16.838 billion compared to N654.456 billion in February.
• Cost of Collection: N25.505 billion
• Transfers, Interventions & Refunds: N18.363 billion
• Net distributable VAT: N593.750 billion
• Federal Government: N89.063 billion
• States: N296.875 billion
• LGAs: N207.813 billion
Statutory Revenue:
The Gross Statutory Revenue stood at N1.718 trillion, up by N65.422 billion from the previous month’s N1.653 trillion.
• Cost of Collection: N58.831 billion
• Transfers, Interventions & Refunds: N728.817 billion
• Net distributable: N931.325 billion
• Federal Government: N422.485 billion
• States: N214.290 billion
• LGAs: N165.209 billion
• Derivation (13%): N129.341 billion
Electronic Money Transfer Levy (EMTL):
A total of N26.011 billion was shared from EMTL collections:
• Federal Government: N3.746 billion
• States: N12.485 billion
• LGAs: N8.740 billion
• Cost of Collection: N1.040 billion
Exchange Difference:
From the Exchange Difference revenue of N28.711 billion:
• Federal Government: N13.402 billion
• States: N6.798 billion
• LGAs: N5.241 billion
• Oil-Producing States (13% Derivation): N3.270 billion
The Communiqué noted a significant increase in Petroleum Profit Tax (PPT) and Companies Income Tax (CIT), while receipts from Oil and Gas Royalties, VAT, EMTL, Excise Duty, Import Duty, and CET Levies recorded declines.
In total, the distributable revenue for March 2025 was drawn from:
• Statutory Revenue: N931.325 billion
• VAT: N593.750 billion
• EMTL: N24.971 billion
• Exchange Difference: N28.711 billion
Total Distributable: N1.578 Trillion