…Puts Gross Revenue at N2.6 Trillion

By Emma Ujah, Abuja Bureau Chief

The Federation Account Allocation Committee (FAAC) has disbursed N1.703 trillion to the Federal Government, States, and Local Government Councils.

This was announced following the FAAC meeting held in Abuja, according to a statement by Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation.

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.