The Federal Government, states, and local government councils have shared a total of N1.659 trillion as revenue generated in May 2025, according to figures released after the June 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The figure, confirmed by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF), represents a significant disbursement buoyed by a strong performance in Company Income Tax (CIT), Value Added Tax (VAT), and Import Duties.
The breakdown shows the revenue pool consisted of:
Statutory revenue: N863.895 billion
VAT: N691.714 billion
Electronic Money Transfer Levy (EMTL): N27.667 billion
Exchange Difference revenue: N76.614 billion
Gross Revenue Tops N2.94 Trillion for May
According to the FAAC communiqué, the total gross revenue available in May 2025 stood at N2.942 trillion, marking a notable increase from previous months. However, deductions for cost of collection amounted to N111.908 billion, while transfers, refunds, and interventions gulped N1.171 trillion, bringing the distributable amount to N1.659 trillion.
Federal, State, and LG Allocations
From the N1.659 trillion distributable revenue:
Federal Government received N538.004 billion
State Governments received N577.841 billion
Local Government Councils received N419.968 billion
An additional N124.076 billion was shared as 13% derivation revenue to oil-producing states.
Statutory Revenue Breakdown (N863.895 Billion)
FG: N393.518 billion
States: N199.598 billion
LGs: N153.881 billion
Derivation (13%): N116.898 billion
VAT Revenue Sees Major Boost (N691.714 Billion)
With VAT collections showing a N100.555 billion increase from April, the breakdown is as follows:
FG: N103.757 billion
States: N345.857 billion
LGs: N242.100 billion
EMTL and Exchange Difference
From the N27.667 billion EMTL:
FG: N4.150 billion
States: N13.833 billion
LGs: N9.683 billion
From the N76.614 billion Exchange Difference:
FG: N36.579 billion
States: N18.553 billion
LGs: N14.304 billion
Derivation (13%): N7.178 billion
Revenue Performance Summary
The communiqué noted that in May 2025, Company Income Tax (CIT), VAT, and Import Duties recorded significant increases, while CET Levies, Petroleum Profit Tax (PPT), Oil and Gas Royalties, and EMTL experienced declines. Excise Duty, meanwhile, saw only a marginal uptick.
The FAAC statement underlined the importance of enhancing non-oil revenue sources and ensuring fiscal discipline at all levels of government to support economic stability and development.
