February 2025 Revenue: Federal, State, and Local Government Councils Share N1.678 Trillion
In February 2025, a total of N1.678 trillion was shared among the Federal Government, State Governments, and Local Government Councils from the Federation Account Revenue. This distribution took place during the March 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The meeting was also attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.
The total distributable revenue of N1.678 trillion included distributable statutory revenue of N1.633 trillion, distributable Value Added Tax (VAT) revenue of N609.430 billion, Electronic Money Transfer Levy (EMTL) revenue of N35.171 billion, Solid Minerals revenue of N28.218 billion, and an augmentation of NN178 billion.
According to a communiqué released by FAAC, the total gross revenue available for February 2025 was N2.344 trillion. Total deductions for the cost of collection amounted to N89.092 billion, while total transfers, interventions, refunds, and savings were NN577 billion.
The communiqué indicated that gross statutory revenue of N1.653 trillion was received for February 2025, which was lower than the N1.848 trillion received in January 2025 by NN194 billion.
From the Value Added Tax (VAT) in February 2025, a gross revenue of NN654 billion was available, which was lower than the NN771 billion available in January 2025 by NN117 billion.
According to the total distributable revenue of N1.678 trillion, the Federal Government received NN569 billion, while State Governments received NN562 billion. Local Government Councils received NN410 billion, and an additional sum of NN136 billion (13% of mineral revenue) was shared with the benefiting States as derivation revenue.
Of the N1.633 trillion in distributable statutory revenue, the Federal Government received NN366 billion, State Governments received NN185 billion, and Local Government Councils received NN143 billion. Another NN132 billion (13% of mineral revenue) was allocated to the benefiting States as derivation revenue.
From the NN609 billion in distributable Value Added Tax (VAT) revenue, the Federal Government received N91.415 billion, the State Governments received NN304 billion, and the Local Government Councils received NN213 billion.
For the Electronic Money Transfer Levy (EMTL), the Federal Government received N5.276 billion from the total of N35.171 billion. State Governments received N17.585 billion, and Local Government Councils received N12.310 billion.
From the N28.218 billion in Solid Minerals revenue, the Federal Government received N12.933 billion, State Governments received N6.560 billion, and Local Government Councils received N5.057 billion. Additionally, N3.668 billion (13% of mineral revenue) was shared with the benefiting States as derivation revenue.
The augmentation of NN178 billion was distributed as follows: the Federal Government received N93.770 billion, State Governments received N47.562 billion, and Local Government Councils received N36.668 billion.
In February 2025, revenues from Oil and Gas Royalty and the Electronic Money Transfer Levy (EMTL) saw significant increases, while revenues from Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies experienced declines.
