By Ayomide Otitoju
The Federation Account Allocation Committee (FAAC) has shared a total revenue of ₦1.659 trillion for the month of May 2025 among the federal, state, and local governments.
According to a communiqué released after the FAAC meeting, the total distributable revenue comprised ₦863.895 billion from statutory sources, ₦691.714 billion from Value Added Tax (VAT), ₦27.667 billion from the Electronic Money Transfer Levy (EMTL), and ₦76.614 billion from Exchange Difference.
Of the total, the Federal Government received ₦538.004 billion, states got ₦577.841 billion, and local government councils received ₦419.968 billion. Additionally, ₦124.076 billion was allocated to oil-producing states as 13% derivation revenue.
Breaking down the allocations further, the communiqué noted that from the ₦863.895 billion statutory revenue, the Federal Government received ₦393.518 billion, states got ₦199.598 billion, and local governments received ₦153.881 billion. Oil-producing states also received ₦116.898 billion from this source as derivation.
From the ₦691.714 billion VAT pool, the Federal Government collected ₦103.757 billion, while states and local governments received ₦345.857 billion and ₦242.100 billion respectively.
Revenue from EMTL was distributed as follows: ₦4.150 billion to the Federal Government, ₦13.833 billion to states, and ₦9.683 billion to local councils.
Additionally, from the ₦76.614 billion generated from Exchange Difference, the Federal Government received ₦36.579 billion, states ₦18.553 billion, and local councils ₦14.304 billion. A further ₦7.178 billion was allocated to oil-producing states as derivation.
Gross revenue for May stood at ₦2.942 trillion. From this, ₦111.908 billion was deducted as cost of collection, while ₦1.171 trillion was earmarked for transfers, interventions, and refunds.
The communiqué, signed by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, disclosed that gross statutory revenue for May was ₦2.094 trillion — a slight increase of ₦10.023 billion from the ₦2.084 trillion recorded in April.
VAT also saw significant growth, rising from ₦642.265 billion in April to ₦742.820 billion in May — an increase of ₦100.555 billion.
“Companies Income Tax (CIT), Value Added Tax (VAT), and Import Duty recorded significant increases in May, while CET levies, Petroleum Profit Tax (PPT), Oil and Gas Royalties, and the EMTL recorded declines. Excise Duty showed a marginal increase,” the statement added.
