The federation account received lower revenue in the month of March 2025 as the Federation Account Allocation Committee (FAAC) shared N1.578 trillion, to the Federal Government, States and the Local Government Councils at the April 2025 meeting of the committee which held in Abuja.
Bawa Mokwa, Director Press and Public Relations at the Office of the Accountant General of the Federation in a statement disclosed that the total distributable revenue of N1.578 trillion comprised distributable statutory revenue of N931.325 billion, distributable Value Added Tax (VAT) revenue of N593.750 billion, Electronic Money Transfer Levy (EMTL) revenue of N24.971 billion and Exchange Difference revenue of N28.711 billion.
He disclosed that a communiqué issued by the Federation Account Allocation Committee (FAAC), revealed that total gross revenue of N2.411 trillion was available in the month of March 2025. Total deduction for cost of collection was N85.376 billion while total transfers, interventions and refunds was N747.180 billion.
The communiqué stated that gross statutory revenue of February 2025 by N65.422 billion.
Gross revenue of N637.618 billion was available from the Value Added Tax (VAT) in March 2025; it was lower than the N654.456 billion available in the preceding month by N16.838 billion.
The statement added that from the total distributable revenue of N1.578 trillion, the Federal Government received total sum of N528.696 billion, State Governments received N530.448 billion, Local Government Councils got N387.002 billion and N132.611 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
On the N931.325 billion distributable statutory revenue, the Federal Government received N422.485 billion, State Governments received N214.290 billion, Local Government Councils received N165.209 billion and N129.341 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
Also distributed was N593.750 billion distributable Value Added Tax (VAT) revenue; the Federal Government received N89.063 billion, State Governments received N296.875 billion and the Local Government Councils received N207.813 billion.
A total sum of N3.746 billion was received by the Federal Government from the N24.971 billion Electronic Money Transfer Levy (EMTL). State Governments received N12.485 billion and the Local Government Councils received N8.740 billion.
From the N28.711 billion Exchange Difference revenue, the Federal Government received N13.402 billion and the State Governments received N6.798 billion while Local Government Councils received N5.241 billion and a total sum of N3.270 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
Mokwa stated that Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased considerably in March 2025 while Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), Value Added Tax (VAT), Excise Duty, Import Duty and CET Levies recorded decreases.
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