The Federal Government, state governments, and local government councils have shared a total of N1.678 trillion as revenue from the Federation Account for February 2025, reflecting a slight decline from the N1.703 trillion allocated in January.
The revenue disbursement was confirmed in a communiqué issued after the Federation Account Allocation Committee (FAAC) meeting held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The meeting was also attended by the Accountant General of the Federation, Shamseldeen Ogunjimi, and other senior officials.
According to a press statement by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, the N1.678 trillion distributed included: N827.633 billion from statutory revenue, N609.430 billion from Value Added Tax (VAT), N35.171 billion from the Electronic Money Transfer Levy (EMTL), N28.218 billion from solid minerals revenue, N178 billion as augmentation
The total gross revenue available for February stood at N2.344 trillion, from which N89.092 billion was deducted as the cost of collection, while N577.097 billion was allocated for transfers, interventions, refunds, and savings.
The February allocation showed a drop in major revenue streams, with gross statutory revenue falling to N1.653 trillion, a decline of N194.664 billion from N1.848 trillion in January.
Similarly, gross VAT revenue dropped to N654.456 billion, down by N117.430 billion from N771.886 billion recorded in the previous month.
Despite these declines, earnings from oil and gas royalties and the EMTL recorded an increase during the month.
From the total N1.678 trillion distributable revenue:The Federal Government received N569.656 billion, State governments received N562.195 billion and Local government councils received N410.559 billion
Oil-producing states got N136.042 billion as 13% derivation revenue
A further breakdown of statutory revenue allocation showed: FG received N366.262 billion, while states and LGs got N185.773 billion and N143.223 billion, respectively.
The 13% derivation revenue from statutory earnings amounted to N132.374 billion
From the N609.430 billion VAT revenue:FG received N91.415 billion, States received N304.715 billion and LGs got N213.301 billion
The N35.171 billion EMTL revenue was distributed as follows:FG: N5.276 billion, States: N17.585 billion and LGs: N12.310 billion
For the N28.218 billion solid minerals revenue: FG received N12.933 billion, States got N6.560 billion and LGs were allocated N5.057 billion
Mineral-producing states received N3.668 billion as derivation revenue
The N178 billion augmentation was shared as follows: FG: N93.770 billion, States: N47.562 billion and LGs: N36.668 billion
The latest FAAC allocation highlights the continued volatility in government revenue, with fluctuations in key tax sources impacting federal and subnational earnings.
The Federal Government has emphasized ongoing efforts to boost revenue through tax reforms and improved fiscal management, while states and LGs are expected to enhance internal revenue generation to cushion the impact of declining federal allocations.
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