The Federal Government, State Governments, and Local Government Councils have shared N1.703 trillion from revenue generated in January 2025. This amount is N279 billion (19.6%) higher than the N1.424 trillion shared in December 2024.
A statement released by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, confirmed the revenue distribution.
Breakdown of the Revenue
The total distributable revenue for January 2025 includes:
- N749.727 billion in statutory revenue
- N718.781 billion from Value Added Tax (VAT)
- N20.548 billion from the Electronic Money Transfer Levy (EMTL)
- N214 billion in additional funds
These figures were published in a communique issued by the Federation Account Allocation Committee (FAAC) after its monthly meeting.
Total Gross Revenue and Deductions
- The gross revenue for January 2025 stood at N2.641 trillion, an increase from N2.310 trillion in December 2024.
- The total deductions, including collection costs, stood at N107.786 billion.
- Transfers, interventions, refunds, and savings amounted to N830.663 billion.
How the N1.703 Trillion Was Shared
- The Federal Government received N552.591 billion.
- State Governments were allocated N590.614 billion.
- Local Government Councils received N434.567 billion.
- Oil-producing states received N125.284 billion as 13% derivation revenue.
Revenue Sources
- The gross statutory revenue for January 2025 was N1.848 trillion, an increase of N622.125 billion from December’s N1.226 trillion.
- The gross VAT revenue for January was N771.886 billion, which was N122.325 billion higher than December’s N649.561 billion.
Distribution by Revenue Type
From the N749.727 billion in statutory revenue:
- The Federal Government received N343.612 billion.
- State Governments got N174.285 billion.
- Local Government Councils received N134.366 billion.
- Oil-producing states got N97.464 billion in derivation revenue.
From the N718.781 billion VAT revenue:
- The Federal Government received N107.817 billion.
- State Governments got N359.391 billion.
- Local Governments received N251.573 billion.
From the N20.548 billion Electronic Money Transfer Levy:
- The Federal Government got N3.082 billion.
- State Governments received N7.192 billion.
- Local Government Councils got N10.274 billion.
From the N214 billion augmentation:
- The Federal Government received N98.080 billion.
- State Governments got N49.747 billion.
- Local Government Councils received N38.353 billion.
- Oil-producing states got N27.820 billion.
Key Takeaways
The FAAC communique also highlighted increased revenue from VAT, Petroleum Profit Tax, Companies Income Tax, Excise Duty, Import Duty, and CET Levies. However, there was a decline in revenue from the Electronic Money Transfer Levy (EMTL) and Oil and Gas Royalty receipts.
