ABUJA — The Federation Account Allocation Committee (FAAC) has shared a total of N2.001 trillion among the federal, state, and local governments as revenue for July 2025. The allocation was announced in a communiqué issued on Friday after the August FAAC meeting in Abuja by Bawa Mokwa, spokesperson for the Office of the Accountant General of the Federation.
The distributable revenue included statutory earnings, Value Added Tax (VAT), the Electronic Money Transfer Levy (EMTL), and exchange difference. According to the communiqué, the federal government received N735.081 billion, state governments received N660.349 billion, and local government councils received N485.039 billion, while oil-producing states got N120.359 billion as 13 percent derivation revenue.
The gross statutory revenue for July was N3.070 trillion, which was lower than the N3.485 trillion recorded in June by N415.108 billion. On the other hand, gross VAT collections for July stood at N687.940 billion, slightly higher than June’s N678.165 billion by N9.775 billion.
The communiqué further disclosed that Petroleum Profit Tax, Oil and Gas Royalty, EMTL, and Excise Duty all recorded significant increases, while VAT and import duty grew marginally. However, Companies Income Tax and CET levies declined within the period.
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