The Federation Account Allocation Committee (FAAC) has disbursed N1.703 trillion to the Federal Government, States, and Local Government Councils across the country
This was announced in a press statement by Mr Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation following the FAAC meeting held in Abuja.
FAAC declared a gross revenue of N2.641 trillion for January 2025, indicating that approximately N900 billion was allocated to Special Funds and revenue-generating agencies as a cost of collection.
Total deduction for cost of collection: N107.786 billion
Total transfers, interventions, refunds, and savings: N830.663 billion
The N1.703 trillion total distributable revenue includes:
Statutory revenue: N749.727 billion
Value Added Tax (VAT) revenue: N718.781 billion
Electronic Money Transfer Levy (EMTL) revenue: N20.548 billion
Augmentation: N214 billion
Comparison with Previous Month
Gross statutory revenue for January 2025: N1.848 trillion
Gross statutory revenue for December 2024: N1.226 trillion
Increase: N622.125 billion
Gross VAT revenue for January 2025: N771.886 billion
Gross VAT revenue for December 2024: N649.561 billion
Increase: N122.325 billion
Revenue Distribution
From the N1.703 trillion total distributable revenue:
Federal Government: N552.591 billion
State Governments: N590.614 billion
Local Government Councils: N434.567 billion
Derivation revenue (13% of mineral revenue): N125.284 billion
Breakdown by Revenue Type
1. Statutory Revenue (N749.727 billion):
Federal Government: N343.612 billion
State Governments: N174.285 billion
Local Government Councils: N134.366 billion
Derivation revenue: N97.464 billion
2. VAT Revenue (N718.781 billion):
Federal Government: N107.817 billion
State Governments: N359.391 billion
Local Government Councils: N251.573 billion
3. Electronic Money Transfer Levy (N20.548 billion):
Federal Government: N3.082 billion
State Governments: N7.192 billion
Local Government Councils: N10.274 billion
4. Augmentation (N214 billion):
Federal Government: N98.080 billion
State Governments: N49.747 billion
Local Government Councils: N38.353 billion
Derivation revenue: N27.820 billion
FAAC assured that revenue allocation would continue to support economic growth and government programs at all levels
