The Federation Account Allocation Committee (FAAC) has revealed a disbursement of N1.681 trillion to the three tiers of government for April 2025, sourced from a total gross revenue of N2.848 trillion.
This allocation reflects an increase of N103 billion compared to the N1.578 trillion allocated in March.
The growth is primarily attributed to a notable rise in Petroleum Profit Tax (PPT), Oil and Gas Royalty, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Excise Duty, Import Duty, and CET Levies, despite a decline in Company Income Tax (CIT).
During the FAAC meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, in Abuja, the minister expressed gratitude towards the Committee for their unwavering commitment to their responsibilities.
He highlighted that domestic revenue mobilisation is essential for Nigeria’s sustainable development financing in the long run.
According to a communique released after the meeting by the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, the N1.681 trillion shared among the various government levels includes Statutory Revenue of N962.882 billion, VAT of N598.077 billion, N38.862 billion from EMTL, and N81.407 billion from Exchange Difference.
The federal government received N565.307 billion, the states N556.741 billion, local government councils N406.627 billion, while oil-producing states received N152.553 billion, constituting a 13 per cent derivation for mineral revenue.
Collection costs amounted to N101.051 billion, with N1.066 trillion set aside for Transfers, Interventions, and Refunds.
The communique further revealed that the gross revenue from VAT for April was N642.265 billion, an increase from the N637.618 billion reported the previous month, reflecting a rise of N4.647 billion.
From the VAT revenue, N25.691 billion was allocated for collection costs and N18.497 billion for Transfers, Interventions, and Refunds, leaving N598.077 billion to be distributed among the three tiers of government.
The federal government received N89.712 billion, states obtained N299.039 billion, and local governments garnered N209.327 billion from VAT.
Notably, FAAC did not provide any updates regarding the balance in the Excess Crude Account (ECA), with the last reported figure exceeding $400,000.
