MON JULY 21 2025-theGBJournal| The Federation Account Allocation Committee (FAAC), at its July 2025 meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, shared a total sum of N1.818 trillion to the three tiers of government as Federation Allocation for the month of June 2025 from a gross total of N4.232 trillion.
From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Exchange Difference and N100.000 billion Augmentation from Non Mineral Revenue, the Federal Government received N645.383 billion, the States received N607.417 billion, the Local Government Councils got N444.853 billion, while the Oil Producing States received N120.759 billion as Derivation, (13% of Mineral Revenue).
The sum of N162.786 billion was given for the cost of collection, while N2.251 Trillion was allocated for Transfers Intervention and Refunds.
The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of June 2025, was N678.165 billion as against N742.820 billion distributed in the preceding month, resulting in a decrease of N64.655 Billion.
From that amount, the sum of N27.127 billion was allocated for the cost of collection and the sum of N19.531 billion given for Transfers, Intervention and Refunds. The remaining sum of N631.507 billion was distributed to the three tiers of government, of which the Federal Government got N94.726 billion, the States received N315.754 billion and Local Government Councils got N221.027 billion.
Accordingly, the Gross Statutory Revenue of N3.385 trillion received for the month was higher than the sum of N2.094 trillion received in the previous month by N1.390 trillion. From the stated amount, the sum of N134.444 billion was allocated for the cost of collection and a total sum of N2.231 trillion for Transfers, Intervention and Refunds.
The remaining balance of N1.018 trillion was distributed as follows to the three tiers of government: Federal Government got the sum of N474.455 Billion, States received N240.650 Billion, the sum of N185.531 billion was allocated to LGCs and N118.256 billion was given to Derivation Revenue (13% Mineral producing States).
Also, the sum of N30.380 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N4.375 billion, States got N14.582 billion, Local Government Councils received N10.208 billion, while N1.215 billion was allocated for Cost of Collection.
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