News,Politics

FG, States, Lgs Share N1.68tn April Revenue – FAAC

              FAAC

The Federal Government, 36 states, and 774 local government councils shared a total of N1.681 trillion as revenue from the Federation Account for April 2025, marking a 6.5% increase from the N1.578 trillion distributed in March.

This was disclosed on Friday by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, following the Federation Account Allocation Committee (FAAC) meeting held in Abuja.

Breakdown of the N1.681tn Shared:

  • Statutory Revenue: N962.88bn

  • Value Added Tax (VAT): N598.08bn

  • Electronic Money Transfer Levy (EMTL): N38.86bn

  • Exchange Difference: N81.41bn

Revenue Distribution:

  • Federal Government: N565.31bn

  • State Governments: N556.74bn

  • Local Government Councils: N406.63bn

  • Oil-Producing States (13% derivation): N152.55bn

Further Breakdown:

  • From the Statutory Revenue (N962.88bn):

    • FG: N431.31bn

    • States: N218.77bn

    • LGs: N168.66bn

    • Derivation (13%): N144.15bn

  • From the VAT Pool (N598.08bn):

    • FG: N89.71bn

    • States: N299.04bn

    • LGs: N209.33bn

  • From the EMTL (N38.86bn):

    • FG: N5.83bn

    • States: N19.43bn

    • LGs: N13.60bn

  • From the Exchange Difference (N81.41bn):

    • FG: N38.46bn

    • States: N19.51bn

    • LGs: N15.04bn

    • Derivation: N8.40bn

FAAC reported that gross revenue for April stood at N2.848 trillion, with N101.05 billion deducted as collection costs and N1.066 trillion allocated to transfers, refunds, interventions, and savings.

The statement noted increases in Petroleum Profit Tax, Oil and Gas Royalties, VAT, Excise Duty, Import Duty, and CET Levies, while Companies Income Tax declined significantly.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *