Nigerian Governments Share ₦1.7 Trillion FAAC Revenue for February

The Federal Account Allocation Committee (FAAC) has shared approximately N1.7 trillion in revenue among Nigeria’s federal, state, and local governments for February 2025. According to a statement released by the Director of Press and Public Relations, Bawa Mokwa, the total sum distributed was N1.678 trillion.

The revenue-sharing process took place at the March 2025 FAAC meeting held in Abuja, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. Also present at the meeting was the Accountant General of the Federation, Shamseldeen Ogunjimi.

The distributable revenue came from various sources, including statutory revenue, Value Added Tax (VAT), the Electronic Money Transfer Levy (EMTL), solid minerals revenue, and an augmentation fund.

A communiqué issued by FAAC revealed that the total gross revenue available for February 2025 stood at N2.344 trillion. However, deductions for the cost of collection amounted to N89.092 billion, while N577.097 billion was allocated for transfers, interventions, refunds, and savings.

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The gross statutory revenue collected in February 2025 was lower than that of the previous month, reflecting a decline in collections.

Similarly, VAT revenue in February was also lower than the figures recorded in January 2025. Despite these reductions, FAAC ensured the equitable distribution of the available funds to all tiers of government.

From the total distributable revenue, the federal government received the largest portion, followed by state governments, and then local government councils. Additionally, a portion of the mineral revenue was allocated to benefiting states as derivation revenue.

The statutory revenue, VAT, EMTL, and solid minerals revenue were all shared accordingly among the three levels of government, ensuring that each received a fair share to support public services and development projects.

FAAC reported a significant increase in Oil and Gas Royalty and the Electronic Money Transfer Levy (EMTL) in February 2025. However, other revenue streams such as VAT, Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies recorded declines.

With the continued distribution of revenue, government agencies at all levels are expected to use these funds efficiently to drive economic growth and enhance public services across the country.