The Federation Account Allocation Committee ( FAAC) has shared the sum of N2.001 trillion, higher than the immediate past June N1.818 trillion to the Federal Government, states and the 774 constitutionally recognised local government councils as July revenue shared in August after the meeting of the committee held Friday in Abuja.
The Federal Government’s fiscal driven reforms introduced which halted subsidy and floating of foreign exchange freed a hitherto subsidy retention as the reform freed more funds to all three tiers of governments.
The breakdown shows that N2.001 trillion total distributable revenue; comprised distributable statutory revenue of N1, 282.872 trillion, distributable Value Added Tax (VAT) revenue of N640.610 billion, Electronic Money Transfer Levy (EMTL) revenue of N37.601 billion, Exchange Difference N39.745 billion.
According to a statement issued by Director of information in the Office Accountant General of the Federation (OAGF), Mallam Bawa Mokwa put total gross revenue at N3, 836.980 trillion available in the month of July 2025.
Total deduction for the cost of collection was N152,681 billion while total transfers, interventions, refunds and savings was N1,683.471 trillion adding that gross statutory revenue of N3,070.127 trillion was received for the month of July 2025.
This was lower than the sum of N3,485.235 trillion received in the month of June 2025 by N415.108 billion.
Gross revenue of N687.940 billion was available from the Value Added Tax (VAT) in July 2025. This was higher than the N678.165 billion available in the month of June 2025 by N9.775 billion.
The statement added that of the N2,000.828 trillion distributable revenue, the Federal Government received total sum of N735.081 billion and the state governments received total sum of N660.349 billion.
Local government councils received N485.039 billion, while the sum of N120.359 billion (13 per cent of mineral revenue) was shared to the benefiting state as derivation revenue.
On the N1,282.872 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N613.805 billion and the State Governments received N311.330 billion.
The Local Government Councils received N240.023 billion and the sum of N117.714 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.
From the N640.610 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N96.092 billion, the state governments received N320.305 billion and the local government councils received N224.214 billion.
A total sum of N5.640 billion was received by the Federal Government from the N37.601 billion, state governments received N18.801 billion and the local government councils received N13.160 billion.
From the N39.745 billion Exchange Difference, the communiqué stated that the Federal Government received N19.544 billion and the State Governments received N9.913 billion.
The Local Government Councils received N7.643 billion, while the sum of N2.643 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.
In July 2025, Petroleum Profit Tax (PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL) and Excise Duty increased significantly while Value Added Tax (VAT)and import Duty increased marginally.
Companies’ Income Tax (CIT) and CET Levies recorded decreases.
