FG, states, LGs shared N1.681 trillion April revenue: FAAC
The Federation Account Allocation Committee (FAAC), has shared N1.681 trillion, being April revenue among the federal government, states and the local government councils (LGCs).
This is according to a communiqué made available by Bawa Mokwa, the director, press and public relations, Office of the Accountant- General of the Federation (OAGF).
The communiqué said that the revenue was shared at the May meeting of FAAC on Friday in Abuja.
It said that the N1.681 trillion total revenue comprised statutory revenue of N962.882 billion, Value Added Tax (VAT) revenue of N598.077 billion, and Electronic Money Transfer Levy (EMTL) revenue of N38.862 billion.
It also comprised an exchange difference of N81.407 billion.
The communiqué indicated that the total gross revenue of N2,848.721 trillion was available in the month of April 2025.
“Total deduction for cost of collection was N101.051 billion while total transfers, interventions, refunds and savings was N1066.442 billion.
“Gross revenue of N642.265 billion was available from VAT in April 2025. This was higher than the N637.618 billion available in March by N4.647 billion,” it said.
The communiqué said that from the N1.681 trillion total distributable revenue, the Federal Government received the sum of N565.307 billion and the state governments received a total sum of N556.741 billion.
“The LGCs received N406.627 billion, while the sum of N152.553 billion (13 per cent of mineral revenue) was shared to the benefiting State as derivation revenue,” it said.
On the N962.882 billion distributable statutory revenue, the communiqué said that the federal government received N431.307 billion and the state governments received N218.765 billion, and the LGCs N168.659 billion.
“The sum of N144. 151 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.
“From the N598.077 billion VAT revenue, the federal government received N89.712 billion, the state governments received N299.039 billion and the LGCs received N209.327 billion.
“A total sum of N5.829 billion was received by the Federal Government from the N38.862 billion EMTL, the state governments received N19.431 billion and the LGCs received N13.602 billion,” it said.
The communiqué said that in April, petroleum profit tax, oil and gas royalty, EMTL, VAT, excise duty, import duty and CET levies increased significantly, while companies income tax decreased considerably.
(NAN)
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