A total sum of 1.703 trillion naira from Federation Account Revenue has been shared with the Federal Government, states, and local government Councils in January 2025.
This is according to a statement by the Director of Press and Public Relations, Office of the Accountant General of the Federation, Bawa Mokwa.
Mokwa said that the revenue was shared at the February Federation Account Allocation Committee meeting on Thursday in Abuja.
Meanwhile, a communiqué from the FAAC meeting said that the 1.703 trillion naira total revenue comprised statutory revenue of 749.727 billion naira, and Value Added Tax revenue of 718.781 billion naira.
It also comprised Electronic Money Transfer Levy revenue of 20.548 billion naira and Augmentation of 214 billion naira.
The communiqué indicated that a total gross revenue of 2.641 trillion naira was available in January 2025.
It said that the total deduction for the cost of collection was 107.786 billion naira while total transfers, interventions, and refunds were 830.663 billion naira.
The communiqué revealed that from the 1.703 trillion naira total distributable revenue, the Federal Government received the total sum of 552.591 billion naira, while the state governments received the sum of 590.614 billion naira.
It said that the LGCs received 434.567 billion naira, and a total sum of 125.284 billion naira (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
