By Badagry Today The Federation Account Allocation Committee (FAAC) has announced that a total of N1.818 trillion was shared among the Fe...
By Badagry Today
The Federation Account Allocation Committee (FAAC) has announced that a total of N1.818 trillion was shared among the Federal Government, 36 states, and 774 local government areas for the month of June 2025.
This was disclosed in a communiqué issued after the FAAC meeting held in Abuja on Friday night, and released by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation.
According to the statement, the revenue shared includes N1.018 trillion from statutory allocations, N631.5 billion from Value Added Tax (VAT), N29.2 billion from the Electronic Money Transfer Levy (EMTL), N38.8 billion from exchange rate differences, and N100 billion from non-mineral revenue augmentation.
Although total gross revenue for the month stood at N4.232 trillion, deductions for the cost of revenue collection and various transfers, interventions, refunds, and savings brought the distributable revenue down to N1.818 trillion.
From that amount, the Federal Government received N645.38 billion, while state governments got N607.42 billion, and local government councils received N444.85 billion. Additionally, states benefiting from oil and gas production shared N120.76 billion as 13 percent derivation revenue.
Breaking down the figures further, the federal government received N474.46 billion out of the statutory revenue, while states received N240.65 billion and local governments got N185.53 billion. From VAT, the federal share was N94.73 billion, states received N315.75 billion, and LGs got N221.03 billion.
In terms of EMTL, the federal government got N4.38 billion, while states received N14.58 billion and LGs received N10.21 billion. For the exchange difference revenue of N38.85 billion, the federal share was N19.15 billion, the states got N9.71 billion, and the LGs took N7.49 billion, with another N2.5 billion going to oil-producing states as derivation.
Lastly, from the N100 billion augmentation from non-mineral revenue, the federal government received N52.68 billion, states got N26.72 billion, and local governments shared N20.6 billion.
According to the communiqué, while revenues from Companies Income Tax, Petroleum Profit Tax, and EMTL rose significantly in June, there were notable declines in receipts from Oil and Gas Royalty, VAT, Import Duty, Excise Duty, and Common External Tariff (CET) levies.
Meanwhile, interest is growing around the raw monthly allocation figures received by the 57 local government areas and local council development areas (LG/LCDAs) in Lagos State of recent.
Here is the corrected version with only grammar and clarity improvements:
Badagry Today has exclusively obtained the monthly allocations received by the 20 Local Governments and 37 Local Council Development Areas in Lagos State for the months of March and February 2025. Match these figures with the rate of project execution in your councils and the development outcomes across the state.
No comments