A sum of N2 trillion has been shared among the three tiers of government for the month of July 2025, the Federation Account Allocation Committee (FAAC) has revealed
The gross total revenue was N3.83 trillion, out of which the N2 trillion was shared among the three tiers according to the meeting held for the month of August
Minister of Finance and Coordinating Minister of Economy, Wale Edun chaired the meeting
Director of Information and Public Relations in the ministry of finance, Muhammed Manga announced this in a statement on Friday
From the total amount, which includes statutory revenue, value-added tax (VAT), electronic money transfer levy (EMT), and exchange difference, Manga said the federal government received N735.08 billion, states received N660.34 billion, and local governments got N485.03 billion.
Also, the oil producing states received N120.35 billion as derivation, (13 percent of mineral revenue).
FAAC said N152.68 billion was given for the cost of collection, while N1.68 trillion was allocated for transfers, intervention and refunds.
The communique also indicated that the gross revenue available from the VAT for the month of July 2025 was N687.94 billion as against N678.16 billion in June, representing an increase of N9.77 billion.
“From that amount, the sum of N27.51 billion was allocated for the cost of collection and the sum of N19.81 billion given for Transfers, Intervention and Refunds,” the statement reads.
“The remaining sum of N640.61 billion was distributed to the three tiers of government, of which the federal government got N96.09 billion, the States received N320.305 Billion and local government Councils got N224.21 billion.”
FAAC said gross statutory revenue of N3.07 trillion received for the month was lower than the N3.48 trillion received in the previous month by N415.10 billion .
From the stated amount, the sum of N123.59 billion was allocated for the cost of collection and N1.66 trillion for transfers, intervention and refunds.
“The remaining balance of N1.28 trillion was distributed as follows to the three tiers of government: Federal Government got the sum of N613.805 Billion, States received N311.330 Billion, the sum of N240.023 Billion was allocated to LGCs and N117.714 Billion was given to Derivation Revenue (13% Mineral producing States),” FAAC said.
For EMTL, the committe said out of N39.16 billion, the federal government received N5.64 billion, states got N18.80 billion, local governments received N13.16 billion, while N1.56 billion was allocated for cost of collection.
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