The Federation Account Allocation Committee has disbursed a total of N1.578 trillion to the federal, state, and local governments for March 2025. This figure represents the revenue generated during the month and includes statutory allocations, VAT proceeds, levies, and exchange revenue. The Office of the Accountant-General of the Federation announced the release late last night, confirming that the total distributable sum was made available from the Federation’s revenue inflows.
The breakdown shows that the statutory revenue contributed N931.325 billion, Value Added Tax brought in N593.750 billion, Electronic Money Transfer Levy accounted for N24.971 billion, and revenue from Exchange Difference added another N28.711 billion. The total gross revenue available for the month was N2.411 trillion. From this, N85.376 billion was deducted to cover the cost of revenue collection, while another N747.180 billion was earmarked for transfers, interventions, and refunds.
Statutory revenue alone stood at N1.718 trillion, marking a rise of N65.422 billion compared to February’s figure of N1.653 trillion. However, VAT revenue dropped from N654.456 billion in February to N637.618 billion in March, reflecting a decrease of N16.838 billion.
From the total distributable revenue, the federal government received N528.696 billion. The state governments collectively received N530.448 billion, and local government councils got N387.002 billion. In addition, N132.611 billion, representing 13 percent of mineral revenue, was allocated to oil-producing states as derivation revenue.
Focusing on the statutory revenue portion, the federal government took N422.485 billion, state governments received N214.290 billion, and local councils got N165.209 billion. Derivation revenue from this segment stood at N129.341 billion.
The distribution of VAT revenue saw the federal government receiving N89.063 billion, while state governments got N296.875 billion and local councils received N207.813 billion.
From the Electronic Money Transfer Levy of N24.971 billion, the federal government received N3.746 billion, state governments got N12.485 billion, and local councils were allocated N8.740 billion.
Revenue from exchange differences totaling N28.711 billion was also shared, with the federal government receiving N13.402 billion. State governments got N6.798 billion, and local councils received N5.241 billion. A derivation allocation of N3.270 billion was also shared from this category.
Revenue trends for the month indicated a notable increase in Petroleum Profit Tax and Companies Income Tax. However, other categories including Oil and Gas Royalties, EMTL, VAT, Excise Duties, Import Duties, and CET levies experienced declines compared to the previous month.
