The Federation Account Allocation Committee (FAAC) has disbursed a total of N2.001 trillion as July 2025 revenue to the Federal Government, States, and Local Government Councils (LGCs).
This was disclosed in a communiqué issued by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, after the FAAC meeting held in Abuja on Friday.
The breakdown of the distributable revenue shows N1.283 trillion from statutory sources, N640.610 billion from Value Added Tax (VAT), N37.601 billion from the Electronic Money Transfer Levy (EMTL), and N39.745 billion from exchange difference.
According to the communiqué, gross revenue for July stood at N3.837 trillion, with N152.681 billion deducted as collection costs and N1.683 trillion earmarked for transfers, interventions, refunds, and savings.
Of the N2.001 trillion shared, the Federal Government received N735.081 billion, States got N660.349 billion, and Local Government Councils received N485.039 billion. Oil-producing states were allocated an additional N120.359 billion as 13% derivation revenue.
While statutory revenue for July dropped to N3.070 trillion, down from N3.485 trillion in June, VAT revenue recorded a marginal rise to N687.940 billion compared to N678.165 billion in June.
The communiqué also noted increases in Petroleum Profit Tax, Oil and Gas Royalty, EMTL, and Excise Duty, while Companies Income Tax and CET Levies declined.
The Office of the Accountant General stressed that the allocations are vital for sustaining government operations and funding developmental projects across the country.
