FAAC Distributes N2.2tn August Revenue to FG, States, LGs.

FAAC Distributes N2.2tn August Revenue to FG, States, LGs.

The Federal Government, states, and local government councils shared a total of N2.225 trillion from the Federation Account for August 2025. This was N224.1 billion more than what was shared in July, which was N2.001 trillion.

The information was announced by the Federation Account Allocation Committee (FAAC) after its meeting in Abuja. The Office of the Accountant General of the Federation, through its spokesperson Bawa Mokwa, confirmed the breakdown.

According to the statement, the distributable revenue comprised N1.478 trillion from statutory sources, N672.9 billion from Value Added Tax (VAT), N32.3 billion from the Electronic Money Transfer Levy (EMTL), and N41.2 billion from exchange gains.

Out of the statutory revenue, the Federal Government got N684.4 billion, states got N347.1 billion, local governments got N267.6 billion, and oil-producing states received N179.3 billion as derivation.

From VAT, the Federal Government got N100.9 billion, states N336.4 billion, and local governments N235.5 billion. From EMTL, the Federal Government received N4.8 billion, states N16.1 billion, and local governments N11.3 billion.

For the exchange difference of N41.2 billion, the Federal Government took N19.7 billion, states N10 billion, local governments N7.7 billion, while N3.7 billion went to oil-producing states.

The total gross revenue available in August was N3.635 trillion, but deductions for collection cost took N124.8 billion, and transfers, interventions, and savings accounted for N1.285 trillion.

The statement added that while VAT and royalties went up in August, revenue from Petroleum Profit Tax, Import Duty, Companies Income Tax, and EMTL declined.

President Bola Tinubu had earlier said Nigeria reached its 2025 revenue target in August, mostly because of income from the non-oil sector.