FAAC Shares N1.578 Trillion to FG, States, LGs for March 2025

The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.578 trillion to the federal, state, and local governments as revenue allocation for March 2025.

This was announced in a communiqué issued at the end of the FAAC meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on April 15.

The amount shared was drawn from a gross revenue of N2.411 trillion, which included statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and Exchange Difference.

The federal government received N528.696 billion, while states got N530.448 billion, and local government councils received N387.002 billion. Oil-producing states were also allocated N132.611 billion as 13% derivation.

A total of N85.376 billion was earmarked for the cost of collection, while N747.180 billion went to transfers, intervention, and refunds.

The communiqué noted that the gross statutory revenue for March was N1.718 trillion, which represents an increase of N65.422 billion compared to the previous month. From this, N931.325 billion was distributed to the three tiers of government, with the federal government receiving N422.485 billion, states N214.290 billion, and LGAs N165.209 billion.

On VAT, FAAC said revenue dropped to N637.618 billion in March from N654.456 billion in February — a difference of N16.838 billion. After deductions, N593.750 billion was shared: FG got N89.063 billion, states N296.875 billion, and LGs N207.813 billion.

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Revenue from EMTL totaled N26.011 billion, of which the federal government received N3.746 billion, states N12.485 billion, and LGs N8.740 billion. From the Exchange Difference of N28.711 billion, FG got N13.402 billion, states N6.798 billion, LGAs N5.241 billion, and N3.270 billion went to oil-producing states.

“Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased considerably, while Oil and Gas Royalty, VAT, EMTL, Excise Duty, Import Duty and CET Levies recorded decreases,” the statement concluded.