The Federal Government, state governments, and local government councils have shared a total of N1.678 trillion as Federation Account revenue for February 2025, according to a communiqué issued after the Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The figure represents a slight decline from the N1.703 trillion shared in January, reflecting a drop in key revenue streams including VAT, Petroleum Profit Tax (PPT), and Companies Income Tax (CIT).
This is 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 meeting, chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi, and other senior government officials.
The N1.678 trillion shared comprised 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, and an augmentation of N178 billion.
The total gross revenue available in February stood at N2.344 trillion. From this amount, N89.092 billion was deducted as the cost of collection, while N577.097 billion was allocated to transfers, interventions, refunds, and savings.
