FG, States, LGs Share N2.23tn August Revenue — FAAC

By Oluwakemi Kindness

The Federation Account Allocation Committee (FAAC) has shared a total of N2.225 trillion among the three tiers of government as federation account revenue for August 2025.

According to a communiqué issued at the end of the FAAC meeting held on Wednesday in Abuja, the revenue comprised N1.479 trillion statutory revenue, N672.90 billion Value Added Tax (VAT), N32.34 billion Electronic Money Transfer Levy (EMTL), and N41.28 billion from Exchange Difference.

FAAC disclosed that a gross revenue of N3.636 trillion was available in August, from which N124.84 billion was deducted as cost of collection and N1.286 trillion set aside for transfers, interventions, refunds, and savings.

VAT collections for the month stood at N722.62 billion, higher than the N687.94 billion recorded in July, representing a N34.68 billion increase.

*Breakdown of Allocation*

From the N1.479 trillion statutory revenue, the Federal Government received N684.46 billion, states got N347.17 billion, local government councils received 267.65 billion, while N179.31 billion (13% of mineral revenue) went to oil-producing states as derivation.

Out of the N672.90 billion VAT revenue, the Federal Government received N100.94 billion, states N336.45 billion, and local governments N235.52 billion.

For the N32.34 billion EMTL, the Federal Government got N4.85 billion, states N16.17 billion, and local governments N11.32 billion.

From the N41.28 billion Exchange Difference, the Federal Government received N19.80 billion, states N10.04 billion, local governments N7.74 billion, while N3.70 billion was shared as 13% derivation to oil-producing states.

*Revenue Performance*

The communiqué noted that gross statutory revenue for August stood at N2.838 trillion, lower than the N3.070 trillion recorded in July by N231.91 billion.

It added that while receipts from oil and gas royalty, VAT, and CET levies increased significantly.

Inflows from petroleum profit tax (PPT), companies income tax (CIT), import duty, excise duty, and EMTL recorded declines.