The Federation Account Allocation Committee (FAAC), on Friday, disbursed the sum of N1.681 trillion to the three tiers of government as Federation Allocation for the month of April 2025 from a gross revenue of N2.848 trillion posted.
The shared amount translates to a N103 billion increase over N1.578 trillion disbursed in the preceding month of March.
The rise was also attributed to a significant increase in
Petroleum Profit Tax (PPT), Oil and Gas Royalty, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Excise Duty, Import Duty and CET Levies, although Company Income Tax (CIT) recorded a decrease.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun who chaired the May meeting of FAAC in Abuja, yesterday, thanked the Committee for their resilience in the discharge of their duties
The minister explained that domestic revenue mobilisationwas a critical component of Nigeria’s long-term path to sustainable development financing.
Citing a communique issued at the end of the meeting, the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga, said the total distributable revenue of N1.681 trillion disbursed to the various tiers of government comprised Statutory Revenue of N962.882 billion, Value Added Tax (VAT) of N598.077 billion, N38.862 billion from Electronic Money Transfer Levy (EMTL) and the sum of N81.407 billion from Exchange Difference.
From the amount, the federal government received N565.307 billion, the states received N556.741 billion, local government councils got N406.627 billion, while the oil producing states received N152.553 billion as 13 per cent derivation for mineral revenue.
The cost of collection gulped N101.051 billion, while N1.066 trillion was allocated for Transfers, Interventions and Refunds.
The communique also showed that the gross revenue available from VAT for the month of April, was N642.265 billion as against N637.618 billion distributed in the preceding month, an increase of N4.647 billion.
From that amount, the sum of N25.691 billion was allocated for the cost of collection and N18.497 billion for Transfers, Interventions and Refunds. The remaining sum of N598.077 billion was distributed to the three tiers of government.
The federal government got N89.712 billion, states received N299.039 billion and local governments got N209.327 billion from VAT.
As has been the practice in recent months, no mention was made by FAAC on the balance in the Excess Crude Account (ECA).
The last disclosed balance was put at over $400, 000.