• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Wednesday, August 13, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home Business

FG, States, LGs Shared ₦1.7trn In January – FAAC

Ojimaojo Abubakar by Ojimaojo Abubakar
February 28, 2025
in Business
0
FG, States, LGs Shared ₦1.7trn In January – FAAC
0
SHARES
9
VIEWS
FacebookTwitterWhatsappEmailTelegram

A total sum of ₦ 1.703 trillion, being January 2025 Federation Account Revenue, has been shared with the Federal Government, states, and local government Councils.

This is according to a statement on Thursday by the Director of Press and Public Relations, Office of the Accountant General of the Federation, Bawa Mokwa.

RelatedPosts

Naira Rises to N1,555/$ in Parallel Market

BREAKING: Nigeria’s Non-oil Exports Reach $3.225 Billion In First Half of 2025 – NEPC

Dangote Refinery Begins Phased Receipt Of 4, 000 CNG Trucks

Mokwa said that the revenue was shared at the February Federation Account Allocation Committee meeting on Thursday in Abuja.

Meanwhile, a communiqué from the FAAC meeting said that the ₦1.703 trillion total revenue comprised statutory revenue of ₦749.727 billion, and Value Added Tax revenue of ₦718.781 billion.

It also comprised Electronic Money Transfer Levy revenue of ₦20.548 billion and Augmentation of ₦214 billion.

The communiqué indicated that a total gross revenue of ₦2.641 trillion was available in January 2025.

It said that the total deduction for the cost of collection was ₦107.786 billion while total transfers, interventions, and refunds were N830.663 billion.

“Gross statutory revenue of ₦1.848 trillion was received for the month of January 2025. This was higher than the sum of ₦1.226 trillion received in the month of December 2024 by ₦622.125 billion,” the statement read.

“Gross revenue of ₦771.886 billion was available from the Value Added Tax (VAT) in January 2025. This was higher than the ₦649.561 billion available in the month of December 2024 by ₦122.325 billion.”

ALSO READ:  MTN, Oando, others lift stock market by N60bn

The communiqué said that from the N1.703 trillion total distributable revenue, the Federal Government received the total sum of N552.591 billion, while the state governments received the sum of N590.614 billion.

It said that the LGCs received ₦434.567 billion, and a total sum of ₦125.284 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

“On the ₦749.727 billion distributable statutory revenue, the Federal Government received ₦343.612 billion and the state governments received ₦174.285 billion.

Tags: FAACFGstate
Ojimaojo Abubakar

Ojimaojo Abubakar

Abubakar Ojimaojo is a graduate of Mass Communication, political and football analyst currently work at elanzanews.ng as Editor. He pride himself as skilled wordsmith with a passion for delving into contemporary political issues on both national and international scale.

Related Posts

Naira Appreciates to N1,560 /$ in Parallel Market

Naira Rises to N1,555/$ in Parallel Market

by Nathaniel Irobi
August 13, 2025
0

The Naira yesterday appreciated to N1,555 per dollar in the parallel market from N1,560 per dollar on Monday. Similarly, the...

BREAKING: Nigeria’s Non-oil Exports Reach $3.225 Billion In First Half of 2025 – NEPC

BREAKING: Nigeria’s Non-oil Exports Reach $3.225 Billion In First Half of 2025 – NEPC

by Nathaniel Irobi
August 10, 2025
0

The Nigerian Export Promotion Council has announced that the country’s non-oil exports climbed to $3.225bn in the first half of...

Dangote Refinery to Build 1.6m-Barrel Fuel Storage Tanks in Namibia

Dangote Refinery Begins Phased Receipt Of 4, 000 CNG Trucks

by Nathaniel Irobi
August 10, 2025
0

The Dangote Refinery has commenced phased receipt of the 4,000 Compressed Natural Gas (CNG) trucks as its petroleum products distribution...

Recommended

Nigerian Army Will Have Well-educated, Future-ready Soldiers, Defence Chief Promises

Nigerian Army Will Have Well-educated, Future-ready Soldiers, Defence Chief Promises

3 days ago
VP inaugurates Benue fashion, ICT hub

FG Reaffirms Commitment to $1 Trillion Economy

13 hours ago

Popular News

  • Cross River State Triumphs at Prestigious All-women Interstate Debate

    Cross River State Triumphs at Prestigious All-women Interstate Debate

    0 shares
    Share 0 Tweet 0
  • BRGIE Acting Prime Minister Provides Explosive Testimony to U.S. Congress Calling For Release of Mazi Nnamdi Kanu & Simon Ekpa

    0 shares
    Share 0 Tweet 0
  • Haske: The Rise Of A New Movement

    0 shares
    Share 0 Tweet 0
  • Rahila Bags Presidential’s NYSC Honours Award For Community Service

    0 shares
    Share 0 Tweet 0
  • Intrigues and Political Uncertainty over 2027 APC Governorship Candidate for Taraba 

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (759)
  • Education (222)
  • Entertainment (314)
  • Health (200)
  • National (2,298)
  • News (8,514)
  • Opinion (312)
  • Politics (1,677)
  • Science (15)
  • Security (407)
  • Sports (460)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform