Nigeria’s Federal Government, along with state and local authorities, has received a total allocation of ₦1.659 trillion from the Federation Account Allocation Committee (FAAC) for revenue accrued in May 2025, officials confirmed on Wednesday.
The revenue breakdown was made public following FAAC’s monthly meeting held in Abuja, with Bawa Mokwa, Director of Press and Public Relations at the Accountant-General’s Office, releasing the official figures.
According to the communiqué, the allocation consisted of:
₦863.9 billion from statutory sources
₦691.7 billion in VAT revenue
₦27.7 billion from electronic money transfers
₦76.6 billion from exchange rate adjustments
Despite gross revenue for May reaching ₦2.94 trillion, deductions totalling ₦111.9 billion for collection costs and ₦1.17 trillion for interventions and refunds reduced the distributable amount to ₦1.659 trillion.
From this pool:
The Federal Government received ₦538 billion
State Governments received ₦577.8 billion
Local Government Councils were allocated ₦420 billion
Oil-producing states received ₦124 billion under the derivation formula
The figures reflect a slight increase in gross statutory revenue from April, climbing by ₦10 billion to ₦2.09 trillion. VAT collections also rose sharply by ₦100.5 billion to ₦742.82 billion, reflecting a notable uptick in consumer and corporate activity.
Disbursements from VAT revenue were as follows: ₦103.8 billion to the Federal Government, ₦345.9 billion to states, and ₦242.1 billion to local councils. Additionally, revenue from the Electronic Money Transfer Levy and exchange rate differences was distributed to all levels of government.
The communiqué concluded by noting that while some revenue sources such as CIT, VAT, and import duty performed strongly, petroleum-related taxes and levies saw declines during the month.
