By Ayomide Otitoju
The Federation Account Allocation Committee (FAAC) has distributed ₦1.703 trillion among the federal, state, and local governments for January 2025.
According to a communiqué issued after the February FAAC meeting in Abuja, the total distributable revenue consisted of ₦749.727 billion in statutory revenue, ₦718.781 billion in Value Added Tax (VAT), ₦20.548 billion from the Electronic Money Transfer Levy (EMTL), and a ₦214 billion augmentation.
The Federal Government received ₦552.591 billion, while state governments were allocated ₦590.614 billion. Local government councils received ₦434.567 billion, and ₦125.284 billion was shared as derivation revenue to mineral-producing states.
The communiqué also noted a significant rise in gross statutory revenue for January 2025, which stood at ₦1.848 trillion—₦622.125 billion higher than December 2024’s ₦1.226 trillion. VAT revenue also increased to ₦771.886 billion from December’s ₦649.561 billion.
The revenue distribution reflects growth in VAT, Petroleum Profit Tax (PPT), and Companies Income Tax (CIT), while Electronic Money Transfer Levy (EMTL) and oil and gas royalties experienced a decline.
