FAAC shares N1.578trn March revenue to Federal, states, local councils

 

The three tiers of government in Nigeria have shared the sum of N1.578 trillion as revenue from the federation account for the month of March 2025.

The total distributable revenue of N1.578 trillion comprised distributable statutory revenue of N931.325 billion, distributable Value Added Tax, VAT revenue of N593.750 billion, Electronic Money Transfer Levy, EMTL revenue of N24.971 billion and Exchange Difference revenue of N28.711 billion.

Federation Account Allocation Committee, FAAC, in a communiqué issued at the end of its meeting in Abuja, said a total gross revenue of N2.411 trillion was available in the month of March 2025. 

The committee added that a total deduction for cost of collection was N85.376 billion while total transfers, interventions and refunds was N747.180 billion, as well as gross statutory revenue put at N1.718 trillion for the month.

FAAC explained that the figure was higher than the sum of N1.653 trillion received in the month of February 2025 by N65.422 billion.

According to it, the breakdown of the revenue showed that Federal Government received a total sum of N528.696 billion, the 36 state governments shared a total sum of N530.448 billion while the 774 local government councils got a total sum of N387.002 billion.

It further stated that a total sum of N132.611 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.