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| Wale Edina |
At its July 2025 meeting, the Federation Account Allocation Committee (FAAC), chaired by Finance Minister Wale Edun, distributed N1.818 trillion among the federal, state, and local governments for June 2025, drawn from a gross pool of N4.232 trillion.
Of the allocation, the Federal Government received N645.38 billion, the states got N607.42 billion, and local government councils received N444.85 billion. Oil-producing states were given an extra N120.76 billion as 13% derivation from mineral revenue.
The disbursed funds, according to a press release signed by Mohammed Manga FCIA, Director, Information and Public Relations at the Federal Ministry of Finance, included statutory revenue, VAT, electronic money transfer levy, exchange difference, and a N100 billion non-mineral revenue augmentation.
Additionally, N162.79 billion was set aside for collection costs, while N2.25 trillion was allocated for transfers, interventions, and refunds, the press statement also disclosed.
It also noted that 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 preceeding 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,” the press statement noted.
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, it stated, 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,” the statement added.
Earlier in his opening remarks, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun expressed his deep sense of condolences to the membership of FAAC and entire people of Nigeria both within and in the diaspora on the passing away of the former President Muhammadu Buhari. He stated that the country is still in the mourning mood. The Minister added that the former President's death was a great loss not only to his immediate family but the country as a whole.
He commended the FAAC members' commitment in the realization of the policy objectives of the President Bola Ahmed Tinubu-led Administration's efforts towards repositioning the economy,
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