The Federation Account Revenue shared a total sum of N1.659 trillion with the Federal Government, state governments, and local government councils as May 2025 revenue.
This was disclosed in a communique on Wednesday signed by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation.
The revenue was shared at the June 2025 Federation Account Allocation Committee, FAAC meeting held in Abuja.
The breakdown showed that the N1.659 trillion total distributable revenue comprised distributable statutory revenue of N863.895 billion, distributable Value Added Tax revenue of N691.714 billion, Electronic Money Transfer Levy revenue of N27.667 billion, and Exchange Difference revenue of N76.614 billion.
Accordingly, the communique noted that distributable revenue stemming from N2.942 trillion was available in the month of May 2025, higher than the sum of N2.084 trillion received in the same year by N10.023 billion.
It stated that a total deduction for cost of collection was N111.908 billion, while total transfers, interventions, and refunds were N1.171 trillion.
Also, the communique revealed that a gross revenue of N742.820 billion was available from Value Added Tax in May 2025. This was higher than the N642.265 billion available in the month of April 2025 by N100.555 billion.
It noted that of the N1.659 trillion total distributable revenue, the Federal Government received a total sum of N538.004 billion and the state governments received a total sum of N577.841 billion.
Similarly, the local government council received N419.968 billion, while the sum of N124.076 billion (13 per cent of mineral revenue) was shared with the benefiting state as derivation revenue.
Of the N863.895 billion in distributable statutory revenue, the communiqué stated that the Federal Government received N393.518 billion and state governments received N199.598 billion.
Local government councils received N153.881 billion, and the sum of N116.898 billion (13 per cent of mineral revenue) was shared with the benefiting states as derivation revenue.
From the N691.714 billion distributable Value Added Tax revenue, the Federal Government received N103.757 billion, state governments received N345.857 billion, and local government councils received N242.100 billion.
A total sum of N4.150 billion was received by the Federal Government from the N27.667 billion Electronic Money Transfer Levy. State governments received N13.833 billion, and local government councils received N9.683 billion.
From the N76.614 billion Exchange Difference revenue, the communiqué stated that the Federal Government received N36.579 billion while state governments received N18.553 billion.
Local government councils received N14.304 billion, while the sum of N7.178 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
In the period under review, Companies Income Tax, Value Added Tax, and Import Duty increased significantly, while CET Levies, Petroleum Profit Tax, Oil and Gas Royalty, and Electronic Money Transfer Levy decreased. Meanwhile, excise duty increased only marginally.
