FG, States, LGs Share ₦1.7tn FAAC Revenue In February

The federal, state, and local governments shared approximately N1.7 trillion in revenue with the Federal Account Allocation Committee (FAAC) in February 2025. &nbsp,

A total of N1.678 trillion was shared in the month under review, according to a statement released by Bawa Mokwa’s director of press and public relations on Saturday.

At the FAAC meeting in Abuja in March 2025, the proceeds were shared.

Wale Edun, the minister of finance and the Coordinating Minister of the Economy, took the place of the meeting, and Shamseldeen Ogunjimi, the Federation’s accountant general, also took the place.

The total distributable income of N1.678 trillion included N827.633 billion in distributable statutory revenues, N609.430 billion in distributable value-added tax revenue, N35.171 billion in EMTL revenue, N28.218 billion in solid minerals, and N178 billion in augmentation.

In February 2025, the Federation Account Allocation Committee released a communiqué stating that N2.344 trillion in total gross revenue was available. The total transfers, interventions, refunds, and savings were N577.097 billion, while the total cost of collection was N89.092 billion.

According to the communiqué, N1.653 trillion in gross statutory revenue was made for February 2025. This was less than the N194.664 billion that was received in January, 2025, in comparison.

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In February 2025, the Value Added Tax (VAT) collected a gross income of N654.456 billion. &nbsp, This was lower than the N771.886 billion available in the month of January&nbsp, 2025 by N117.430 billion.

According to the communiqué, the Federal Government received a total of N569.656 billion from the total distributable revenue, and the State Government received total N562.195 billion.

The Local Government Councils received derivation income in the amount of N410.559 billion, and a total of N136.042 billion (13%) of the mineral revenue was split among the benefited States.

The Federal Government received N366.262 billion and the State Governments received N185.773 billion, according to the communiqué regarding the N827.633 billion distributable statutory revenue.

The cost of the sharing of N132.374 billion (13%) of mineral revenue was split among the Local Government Councils as derivation income, and the sum was N143.223 billion.

The Federal Government received N91.415 billion from the N609.430 billion distributable value-added tax (VAT) revenue, the State Governments received N304.715 billion, and the Local Government Councils received N213.301 billion.

The Federal Government benefited from the Electronic Money Transfer Levy (EMTL), which totals N35.17 billion. The State Governments received N1 / N 1 / N 1 / N 1 / N 12 / N / N 1 / N 1 / N 1 / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N / N

The Federal Government received N12.933 billion from the Solid Minerals revenue of N28.218 billion, and the State Governments received N6.560 billion.

The Local Government Councils received N5.057 billion in derivation revenue, and the benefiting States received N3.668 billion in total (derivative revenue).

The Federal Government received N93.770 billion, State Governments received N47.562 billion, and Local Government Councils received N36.668 billion, respectively.

Source: Channels TV