The Federal Authorities, state governments, and native authorities councils have shared a complete of N1.678 trillion as Federation Account income for February 2025, based on a communiqué issued after the Federation Account Allocation Committee (FAAC) assembly held in Abuja.
The determine represents a slight decline from the N1.703 trillion shared in January, reflecting a drop in key income streams together with VAT, Petroleum Revenue Tax (PPT), and Firms Earnings Tax (CIT).
That is based on a press assertion on Saturday by Bawa Mokwa, Director of Press and Public Relations on the Workplace of the Accountant Normal of the Federation.
The assembly, chaired by the Minister of Finance and Coordinating Minister of the Financial system, Wale Edun, was attended by the Accountant Normal of the Federation, Shamseldeen Ogunjimi, and different senior authorities officers.
What FAAC shared from February income
- The N1.678 trillion shared comprised N827.633 billion from statutory income, N609.430 billion from Worth Added Tax (VAT), N35.171 billion from the Digital Cash Switch Levy (EMTL), N28.218 billion from Strong Minerals income, and an augmentation of N178 billion.
- The full gross income obtainable in February stood at N2.344 trillion. From this quantity, N89.092 billion was deducted as the price of assortment, whereas N577.097 billion was allotted to transfers, interventions, refunds, and financial savings.
Decline in statutory and VAT revenues
Gross statutory income fell to N1.653 trillion in February, down by N194.664 billion from the N1.848 trillion recorded in January 2025. Equally, gross VAT income declined to N654.456 billion, in comparison with N771.886 billion within the earlier month, representing a lower of N117.430 billion.
These declines contributed to the decrease distributable income in February, regardless of a noticeable enhance in earnings from Oil and Fuel Royalty and EMTL in the course of the month.
Whereas income from digital transfers and royalties improved in February, general earnings have been affected by declines in VAT and different main tax sources.
How the income was shared
- From the entire distributable income of N1.678 trillion, the Federal Authorities acquired N569.656 billion, state governments acquired N562.195 billion, and native authorities councils acquired N410.559 billion. Oil-producing states acquired N136.042 billion as 13% derivation income from mineral sources.
- Out of the N827.633 billion statutory income, the Federal Authorities acquired N366.262 billion, whereas the states and LGs acquired N185.773 billion and N143.223 billion respectively. The derivation income part from statutory earnings stood at N132.374 billion.
- For VAT, the Federal Authorities acquired N91.415 billion, the states acquired N304.715 billion, and LGs acquired N213.301 billion.
- From the EMTL pool of N35.171 billion, the Federal Authorities acquired N5.276 billion, the states acquired N17.585 billion, and LGs acquired N12.310 billion.
- The Strong Minerals income of N28.218 billion was shared with the Federal Authorities receiving N12.933 billion, the states receiving N6.560 billion, and LGs getting N5.057 billion. An extra N3.668 billion was allotted as derivation income to mineral-producing states.
- The N178 billion augmentation was distributed with N93.770 billion to the Federal Authorities, N47.562 billion to states, and N36.668 billion to native councils.
