The Federation Account Allocation Committee has reported a continued decline in monthly disbursements, with ₦1.578 trillion shared among the Federal Government, states, and local governments for March 2025.
This marks the third consecutive monthly drop in allocations this year, following N1.678tn shared in February and N1.703tn in January.
The decline was disclosed in a press statement issued on Tuesday by the Director of Press and Public Relations at the Office of the Accountant General of the Federation, Bawa Mokwa. The statement followed the April 2025 FAAC meeting held in Abuja.
According to the statement, the N1.578tn shared was made up of N931.325bn from statutory revenue, N593.750bn from Value Added Tax, N24.971bn from the Electronic Money Transfer Levy, and N28.711bn from exchange difference revenue.
The statement read, “A total sum of N1.578tn, being March 2025 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.
“The revenue was shared at the April 2025 Federation Account Allocation Committee meeting held in Abuja.”
From the total ₦1.578 trillion shared in March 2025: The Federal Government received ₦528.696 billion; State governments received ₦530.448 billion.
The local government councils got N387.002bn, while N132.611bn was distributed to oil-producing states as 13 per cent derivation revenue.
Further breakdown showed that from the N931.325bn statutory revenue, the Federal Government received N422.485bn, states got N214.290bn, and local governments received N165.209bn.
A total of N129.341 billion was disbursed as derivation revenue to eligible oil-producing states.
From the N593.750 billion generated through Value Added Tax: The Federal Government received N89.063 billion;
State Governments got N296.875 billion; Local Governments were allocated N207.813 billion.
For the EMTL component, the Federal Government received N3.746bn, the states N12.485bn, and the local governments N8.740bn.
From the N28.711bn exchange difference, N13.402bn went to the Federal Government, N6.798bn to the states, and N5.241bn to local governments, while N3.270bn was shared to oil-producing states as derivation.
The committee disclosed that a total gross revenue of N2.411 trillion was generated in March. Out of this, N85.376 billion was set aside as the cost of collection, while N747.180 billion was used for transfers, refunds, and other interventions.
Despite a rise in gross statutory revenue from N1.653 trillion in February to N1.718 trillion in March, VAT collections dropped from N654.456 billion to N637.618 billion over the same period.
FAAC highlighted that there were significant increases in Petroleum Profit Tax and Companies Income Tax for the month.
However, revenues from oil and gas royalty, VAT, EMTL, excise duty, import duty, and CET levies all saw declines.
