The Federal Government, states, and local governments have shared N1.7 trillion in revenue for February 2025. However, concerns remain about how these funds will be utilized.
A statement released by Bawa Mokwa, Director of Press and Public Relations, on Saturday confirmed that N1.678 trillion was shared at the March 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The meeting, chaired by Minister of Finance Wale Edun and attended by Accountant General Shamseldeen Ogunjimi, allocated the funds as follows:
- Statutory revenue: •N827.633 billion
- Value Added Tax (VAT): N609.430 billion
- Electronic Money Transfer Levy (EMTL): N35.171 billion
- Solid Minerals revenue: N28.218 billion
- Augmentation: N178 billion
The total gross revenue for February was N2.344 trillion, but after deductions for collection costs, refunds, and savings, N1.678 trillion was left for distribution.
Breakdown of FG, States, and LGs’ Share of N1.7 Trillion
From the N1.7 trillion revenue shared, the allocations were:
- Federal Government: N569.656 billion
- State Governments: N562.195 billion
- Local Governments: N410.559 billion
Derivation Revenue (13%
for oil-producing states): N136.042 billion
For the N827.633 billion statutory revenue, the breakdown was:
- FG: N366.262 billion
- States: N185.773 billion
- LGs: N143.223 billion
Derivation for oil-producing states: N132.374 billion
From the N609.430 billion VAT revenue:
- FG: N91.415 billion
- States: N304.715 billion
- LGs: N213.301 billion
The N35.171 billion
Electronic Money Transfer Levy (EMTL) was shared as follows:
- FG: N5.276 billion
- States: N17.585 billion
- LGs: N12.310 billion
The N28.218 billion solid minerals revenue was distributed as:
- FG: N12.933 billion
- States: N6.560 billion
- LGs: N5.057 billion
Derivation for oil-producing states: N3.668 billion
The N178 billion augmentation was shared as follows:
- FG: N93.770 billion
- States: N47.562 billion
- LGs: N36.668 billion
FG, States, LGs Share N1.7 Trillion—But Will Nigerians Benefit?
Despite the allocation of N1.7 trillion, Nigerians question whether these funds will improve infrastructure, healthcare, and education or if they will disappear into corruption and mismanagement.
Revenue from Oil and Gas Royalty and EMTL increased, but VAT, Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty, and CET Levies recorded declines—raising concerns over government revenue sustainability.
With N1.7 trillion shared, Will Nigerians feel the impact, or will this money vanish like before?
