A total sum of N2.001 trillion has been distributed among the Federal Government, State Governments, and Local Government Councils as revenue generated in July 2025,
According to the Federation Account Allocation Committee (FAAC), a total sum of N2.001 trillion has been distributed among the Federal Government, State Governments, and Local Government Councils as revenue generated in July 2025
The allocation was confirmed to have been made during the August 2025 FAAC meeting held in Abuja.
According to the official communiqué issued after the meeting, the N2.001 trillion distributable revenue comprises, statutory revenue of N1.282 trillion,Value Added Tax of N640.610 billion, Electronic Money Transfer Levy of N37.601 billion, and Exchange Difference of N39.745 billion.
The committee also disclosed that the total gross revenue for July stood at N3.837 trillion. From this, N152.681 billion was deducted for the cost of collection, while N.683 trillion was allocated for transfers, interventions, refunds, and savings.
Breakdown of allocations from the N2.001 trillion distributable revenu, is as follows, FG, N735.081 billion, state governments, N660.349 billion, LGs N485.039 billion, and 13 percent derivation to oil producing state N120.359 billion
The communiqué noted a drop in cross statutory revenue which came in at N3.070 trillion for July, compared to N3.485 trillion in June a decline of N415.108 billion.
Conversely, VAT collections improved rising from N678.165 billion in June to N687.940 billion in July, reflecting a N9.775 billion increase.
The committee highlighted that revenues from Petroleum Profit Tax Oil and Gas Royalty EMTL and Excuse Duty witnessed significant increases during the period, while VAT and Import Duty recorded marginal growth, announcing that Company Income Tax (CIT) However, and CET Levies experienced declines.
FAAC continues to meet monthly to distribute revenue generated into the Federation Account to the three tiers of government in line with constitutional provisions, the communique read.