FAAC Revenue Rises To All-time High Of N2.001trn In July, Up By 10%

Despite July’s gross statutory revenue being lower by about N415 billion compared to June, increased contributions from VAT, EMTL, and other levies helped push the overall allocation to a historic peak. Petroleum Profit Tax, Oil and Gas Royalties, and Excise Duty notably increased in July, while Company Income Tax and CET Levies saw decreases.

The statement issued by the director in the office of the Accountant General of the Federation, Bawa Mokwa, revealed that the total gross revenue of N3,836.980 trillion was available in July 2025.
The total deduction for the cost of collection was N152,681 billion, while the total transfers, interventions, refunds, and savings were N1,683.471 trillion.

According to the statement, gross statutory revenue of N3,070.127 trillion was received for the month of July 2025. This was lower than the sum of N3,485.235 trillion received in the month of June 2025 by N415.108 billion.

A breakdown of the figures showed gross revenue of N687.940 billion was available from VAT alone in July 2025, higher than the N678.165 billion available in June 2025 by N9.775 billion.
From the N2,000.828 trillion total distributable revenue, the federal government received N735.081 billion, while all the states received N660.349 billion.

The 774 local government areas received N485.039 billion, while N120.359 billion (13% of mineral revenue) was shared with the benefiting State as derivation revenue.

On the N1,282.872 trillion distributable statutory revenue, the communiqué stated that the federal government received N613.805 billion and the state governments received N311.330 billion. The LGAs received N240.023 billion, and N117.714 billion (13% of mineral revenue) was shared among the benefiting states as derivation revenue, Mokwa stated.

From the N640.610 billion distributable VAT revenue, the central government received N96.092 billion, state governments received N320.305 billion, and local government areas received N224.214 billion.

The federal government received N5.640 billion from the N37.601 billion, the state governments received N18.801 billion, and the local government areas received N13.160 billion.

From the N39.745 billion exchange rate gains, the statement stated that the FG took N19.544 billion, leaving the states with N9.913 billion.

The LGAs also received N7.643 billion as a share of the exchange rate differential. In contrast, N2.643 billion (13 per cent of mineral revenue) was shared among the benefiting states as derivation revenue.