The Federation Account Allocation Committee (FAAC) has distributed a total of N2.001 trillion in revenue for July 2025 to the federal government, state governments, and local government councils.
This allocation was announced during FAAC’s meeting in Abuja.
The distributed amount included N1.282 trillion in statutory revenue, N640.610 billion from Value Added Tax (VAT), N37.601 billion from the Electronic Money Transfer Levy (EMTL), and N39.745 billion due to exchange differences.
From the total revenue available for distribution, the federal government received N735.081 billion, states were allocated N660.349 billion, and local government councils received N485.039 billion.
Additionally, N120.359 billion (13% of mineral revenue) was allocated to oil-producing states as derivation.
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The communiqué revealed that the gross revenue for July was N3.836 trillion, with N152.681 billion deducted for collection costs and N1.683 trillion reserved for transfers, interventions, refunds, and savings.
It was noted that the gross statutory revenue for July was N3.070 trillion, which is N415.108 billion lower than June’s N3.485 trillion.
However, VAT revenue increased slightly to N687.940 billion, up by N9.775 billion compared to June.
The statement also pointed out that there were significant increases in Petroleum Profit Tax (PPT), oil and gas royalties, EMTL, and excise duties in July, while VAT and import duties saw minor growth. In contrast, Companies Income Tax (CIT) and CET levies experienced declines.
