The Federation Account Allocation Committee, FAAC, has shared N1.578 trillion to federal, state and local government councils as revenue for March 2025.
A communiqué issued yesterday after a FAAC meeting held in Abuja, revealed that the total distributable revenue of N1.578 trillion comprised distributable statutory revenue of N931.325 billion, distributable Value Added Tax, VAT revenue of N593.750 billion, Electronic Money Transfer Levy, EMTL revenue of N24.971 billion and Exchange Difference revenue of N28.711 billion.
The communiqué stated that from the total distributable revenue, the Federal Government received a total sum of N528.696 billion and state governments received a total sum of N530.448 billion, while the local government councils received a total sum of N387.002 billion and a total sum of N132.611 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
On the N931.325 billion distributable statutory revenue, the Federal Government received N422.485 billion and state governments received N214.290 billion, while the Local government councils received N165.209 billion and the sum of N129.341 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
From the N593.750 billion distributable VAT revenue, the Federal Government received N89.063 billion, state governments received N296.875 billion and local government councils received N207.813 billion.
