The Federal Government, States, and Local Government Councils have shared a total of N1.703 trillion from the Federation Account as revenue for January 2025, marking a 19.6% increase from December’s N1.424 trillion allocation.
Breakdown of Revenue Distribution
According to the Federation Account Allocation Committee (FAAC), the total distributable revenue consisted of:
- N749.727bn – Statutory Revenue
- N718.781bn – Value Added Tax (VAT)
- N20.548bn – Electronic Money Transfer Levy (EMTL)
- N214bn – Augmentation
From this, the allocation was as follows:
- Federal Government: N552.591bn
- State Governments: N590.614bn
- Local Government Councils: N434.567bn
- N125.284bn (13% of mineral revenue) was shared with oil-producing states.
Key Highlights
- Total gross revenue for January 2025 stood at N2.641 trillion, surpassing December’s N2.310 trillion.
- Gross VAT revenue rose to N771.886bn, up from N649.561bn in December.
- Statutory revenue increased to N1.848 trillion, a jump of N622.125bn from December’s N1.226 trillion.
- There were increases in VAT, Petroleum Profit Tax, Companies Income Tax, Excise Duty, Import Duty, and CET Levies, but declines in EMTL and Oil & Gas Royalty receipts.
This significant rise in revenue underscores a stronger fiscal performance at the start of the year.
