Nigeria’s Revenue Drops N194.6bn in February – FAAC

Nigeria’s Federation Account Allocation Committee, FAAC, revenue dropped by N194.664 billion in February.

According to the FAAC communiqué, the federal government, states, and local government councils shared N1.678 trillion in revenue in February 2025.

The February revenue is lower than the N1.848 trillion received in January 2025. The federal government received N569.656 billion, while state governments received N562.195 billion. Local government councils received N410.559 billion, while N136.042 billion (13 per cent of mineral revenue) was allocated to benefiting states as derivation revenue.

The total distributable revenue of N1.678 trillion comprised distributable statutory revenue of N827.633 billion, distributable Value Added Tax, VAT, revenue of N609.430 billion, Electronic Money Transfer Levy, EMTL, revenue of N35.171 billion, solid minerals revenue of N28.218 billion, and an augmentation of N178 billion.

In February 2025, oil and gas royalty and EMTL increased significantly, while VAT, petroleum profit tax, PPT, companies income tax, CIT, excise duty, import duty, and CET levies recorded decreases.

SOURCE: Daily Post