The Federation Account Allocation Committee (FAAC) met in Abuja and shared a revenue of ₦1.578 trillion among the Federal Government, States, and Local Governments. This money represents revenue generated in March 2025.
The shared amount came from several sources: ₦931.325 billion in statutory revenue, ₦593.750 billion from Value Added Tax (VAT), ₦24.971 billion from the Electronic Money Transfer Levy (EMTL), and ₦28.711 billion from exchange rate differences.
According to a statement released after the meeting, the total revenue for March was ₦2.411 trillion. Out of this, ₦85.376 billion was used to cover collection costs, while ₦747.180 billion was set aside for transfers, interventions, and refunds.
When compared to February 2025, statutory revenue rose by ₦65.422 billion, showing an increase from ₦1.653 trillion to ₦1.718 trillion in March.
From the EMTL, the Federal Government received ₦3.746 billion, while States got ₦12.485 billion, and Local Governments received ₦8.740 billion. In addition, from the exchange rate gains, ₦13.402 billion went to the Federal Government, ₦6.798 billion to States, and ₦5.241 billion to Local Governments. ₦3.270 billion was also shared with oil-producing states as part of the 13% mineral revenue derivation.
Although the government saw an increase in Petroleum Profit Tax (PPT) and Companies Income Tax (CIT), there were drops in revenue from VAT, import duties, excise duties, oil and gas royalties, and EMTL.
This monthly sharing of funds helps ensure that all levels of government can carry out their responsibilities. FAAC set up to manage the distribution of revenue collected into the Federation Account, meets regularly to decide how public funds are shared fairly across the country. This process has been in place for decades and plays a key role in running public services and funding development nationwide.
