FAAC: FG, States, LGCs Share N1.703 trillion January 2025 Revenue
The Federal Government, States, and Local Government Councils have shared a total of N1.703 trillion from the Federation Account revenue for January 2025.
This figure represents a notable 19.6% increase, or N279 billion, compared to the N1.424 trillion shared from December 2024 revenue.
A press release issued by Bawa Mokwa, Director (Press and Public Relations) at the Office of the Accountant General of the Federation on Thursday, confirmed that the N1.703 trillion distributable revenue includes N749.727 billion in statutory revenue, N718.781 billion in Value Added Tax (VAT) revenue, N20.548 billion from the Electronic Money Transfer Levy (EMTL), and N214 billion in augmentation.
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The data was provided through a communique issued by the Federation Account Allocation Committee (FAAC) after its monthly meeting.
Gross revenue and deductions for January 2025
The total gross revenue for January 2025 amounted to N2.641 trillion, surpassing the N2.310 trillion reported for December 2024.
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FAAC: FG, States, LGCs share N1.703 trillion January 2025 revenue
Tobi Tunji by Tobi Tunji 8 hours ago
The Federal Government, States, and Local Government Councils have shared a total of N1.703 trillion from the Federation Account revenue for January 2025.
This figure represents a notable 19.6% increase, or N279 billion, compared to the N1.424 trillion shared from December 2024 revenue.
A press release issued by Bawa Mokwa, Director (Press and Public Relations) at the Office of the Accountant General of the Federation on Thursday, confirmed that the N1.703 trillion distributable revenue includes N749.727 billion in statutory revenue, N718.781 billion in Value Added Tax (VAT) revenue, N20.548 billion from the Electronic Money Transfer Levy (EMTL), and N214 billion in augmentation.
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From EMTL to ATM: Multiple charges cast shadows over Nigeria’s financial inclusion efforts
February 20, 2025
FG, States, LGCs share N1.424 trillion December 2024 revenue
FG, States, LGCs share N1.424 trillion December 2024 revenue
January 18, 2025
The data was provided through a communique issued by the Federation Account Allocation Committee (FAAC) after its monthly meeting.
Gross revenue and deductions for January 2025
The total gross revenue for January 2025 amounted to N2.641 trillion, surpassing the N2.310 trillion reported for December 2024
The communique further revealed that the total deductions for collection costs stood at N107.786 billion, while total transfers, interventions, refunds, and savings were recorded at N830.663 billion.
The breakdown of the N1.703 trillion shared from the Federation Account shows that the Federal Government received N552.591 billion, State Governments were allocated N590.614 billion, and Local Government Councils received N434.567 billion.
Also, N125.284 billion, representing 13% of mineral revenue, was allocated to States benefiting from derivation revenue.
