The Federation Account Allocation Committee (FAAC) has announced the distribution of ₦1.678 trillion in revenue among the federal, state, and local governments for February 2025.
This figure represents a slight decline compared to the ₦1.703 trillion shared in January 2025.
Key Details:
- Revenue Breakdown:
- Statutory Revenue: ₦827.633 billion.
- Value Added Tax (VAT): ₦609.430 billion.
- Electronic Money Transfer Levy (EMTL): ₦35.171 billion.
- Solid Minerals Revenue: ₦28.218 billion.
- Augmentation: ₦178 billion.
- Distribution:
- Federal Government: ₦569.656 billion.
- State Governments: ₦562.195 billion.
- Local Government Councils: ₦410.559 billion.
- Oil-Producing States: ₦136.042 billion (13% derivation revenue).
- Decline in Revenue:
- Gross statutory revenue fell to ₦1.653 trillion, down by ₦194.664 billion from January.
- VAT revenue dropped to ₦654.456 billion, a decrease of ₦117.430 billion compared to the previous month.
This allocation reflects the challenges in revenue generation, with declines in VAT, Petroleum Profit Tax (PPT), and Companies Income Tax (CIT) contributing to the lower distributable revenue.
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