FEDERATION revenue distributed by the Federation Account Allocation Committee (FAAC) to the federal government, 36 state governments, and 774 local government councils (LGCs) improved to N1.818 trillion in June.

It represents a N159 billion increase from the N1.659 trillion shared in May.

The revenue was shared at the July  2025 FAAC meeting held in Abuja, according to a statement on Saturday, July 19 from the Accountant General of the Federation’s office.

The N1.818 trillion distributable revenue comprised statutory revenue of N1.018 trillion, value added tax (VAT) of N631.507 billion, electronic money transfer levy (EMTL)of N29.165 billion, exchange difference of N38.849 billion and N100 billion augmentation from non-mineral revenue.

It stated that in June, a total gross revenue of N4.232 trillion was collected, N162.786 billion was deducted for the cost of collection, while transfers, interventions, refunds and savings were N2.251 trillion.

Of the N1.818 trillion total distributable revenue, the federal government received N645.383 billion, state governments N607.417 billion, and LGCs N444.853 billion.

The sum of N120.759 billion,  representing the 13 per cent derivation from mineral revenue was shared with the benefiting states.

FAAC added that in the review month, revenues from companies’ income tax (CIT), petroleum profit tax (PPT), and EMTL increased significantly, while oil and gas royalty, VAT, import duty, excise duty and CET levies decreased considerably.

Since the removal of the petrol subsidy in May 2023, the federal, state, and  LGCs have seen a sharp increase in the monthly revenue allocation from FAAC, which is expected to ensure a steady flow of funds to support their operations at various levels, The ICIR can report.