The Federal Government, state governments, and local government councils have shared a total of N1.678 trillion as Federation Account revenue for February 2025. This was disclosed in a communiqué issued after the Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The amount represents a slight decrease from the N1.703 trillion shared in January, due to declines in key revenue streams such as Value Added Tax (VAT), Petroleum Profit Tax (PPT), and Companies Income Tax (CIT).
This was stated in a press release issued on Saturday by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation.
FAAC Revenue Breakdown for February
The meeting, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi, and other senior government officials.
The N1.678 trillion shared among the three tiers of government comprised:
- N827.633 billion from statutory revenue,
- N609.430 billion from Value Added Tax (VAT),
- N35.171 billion from the Electronic Money Transfer Levy (EMTL),
- N28.218 billion from Solid Minerals revenue, and
- N178 billion as augmentation.
The total gross revenue available in February stood at N2.344 trillion. From this amount:
- N89.092 billion was deducted as the cost of revenue collection, and
- N577.097 billion was allocated for transfers, interventions, refunds, and savings.
Decline in Statutory and VAT Revenues
Gross statutory revenue dropped to N1.653 trillion in February, reflecting a decline of N194.664 billion compared to N1.848 trillion recorded in January 2025. Similarly, gross VAT revenue fell to N654.456 billion, down by N117.430 billion from the N771.886 billion recorded in the previous month.
Despite an increase in earnings from Oil and Gas Royalty and EMTL, overall revenue declined due to reductions in VAT and other major tax sources.
Revenue Distribution Among Government Tiers
From the N1.678 trillion distributable revenue:
- The Federal Government received N569.656 billion,
- State governments received N562.195 billion, and
- Local government councils received N410.559 billion.
- Oil-producing states received N136.042 billion as 13% derivation revenue from mineral resources.
A breakdown of allocations per revenue source is as follows:
Statutory Revenue (N827.633 billion)
- Federal Government: N366.262 billion
- State Governments: N185.773 billion
- Local Government Councils: N143.223 billion
- Derivation Revenue: N132.374 billion
VAT Revenue (N609.430 billion)
- Federal Government: N91.415 billion
- State Governments: N304.715 billion
- Local Government Councils: N213.301 billion
Electronic Money Transfer Levy (N35.171 billion)
- Federal Government: N5.276 billion
- State Governments: N17.585 billion
- Local Government Councils: N12.310 billion
Solid Minerals Revenue (N28.218 billion)
- Federal Government: N12.933 billion
- State Governments: N6.560 billion
- Local Government Councils: N5.057 billion
- Derivation Revenue: N3.668 billion
Augmentation (N178 billion)
- Federal Government: N93.770 billion
- State Governments: N47.562 billion
- Local Government Councils: N36.668 billion
The Federation Account Allocation Committee (FAAC) continues to ensure a fair distribution of revenue among the different levels of government to support economic development and public services across the country.
