The Federation Account Allocation Committee has reported a continued decline in monthly disbursements to the Federal Government, states, and local governments.
For March 2025, a total of ₦1.578 trillion was shared among the three tiers of government. This marks the third consecutive monthly drop in allocations, following ₦1.678 trillion shared in February and ₦1.703 trillion in January.
According to a press statement issued by the Director of Press and Public Relations at the Office of the Accountant General of the Federation, Bawa Mokwa, the ₦1.578 trillion shared was made up of:
– ₦931.325 billion from statutory revenue
– ₦593.750 billion from Value Added Tax
– ₦24.971 billion from Electronic Money Transfer Levy
– ₦28.711 billion from exchange difference revenue
The statement read: “A total sum of ₦1.578 trillion, being March 2025 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils. The revenue was shared at the April 2025 Federation Account Allocation Committee meeting held in Abuja.”
Breakdown of Revenue Allocation:
– Federal Government: ₦528.696 billion
– Statutory revenue: ₦422.485 billion
– VAT: ₦89.063 billion
– EMTL: ₦3.746 billion
– Exchange difference: ₦13.402 billion
– State Governments: ₦530.448 billion
– Statutory revenue: ₦214.290 billion
– VAT: ₦296.875 billion
– EMTL: ₦12.485 billion
– Exchange difference: ₦6.798 billion
– Local Government Councils: ₦387.002 billion
– Statutory revenue: ₦165.209 billion
– VAT: ₦207.813 billion
– EMTL: ₦8.740 billion
– Exchange difference: ₦5.241 billion
– Oil-producing States: ₦132.611 billion (13% derivation revenue)
– Statutory revenue: ₦129.341 billion
– Exchange difference: ₦3.270 billion
The committee disclosed that a total gross revenue of ₦2.411 trillion was generated in March, out of which ₦85.376 billion was set aside as the cost of collection, and ₦747.180 billion was used for transfers, refunds, and other interventions.
Despite a rise in gross statutory revenue from ₦1.653 trillion in February to ₦1.718 trillion in March, VAT collections dropped from ₦654.456 billion to ₦637.618 billion over the same period. FAAC highlighted significant increases in Petroleum Profit Tax and Companies Income Tax for the month but noted declines in revenues from oil and gas royalty, VAT, EMTL, excise duty, import duty, and CET levies.
