A total sum of N1.659 trillion was shared by the Federation Account Allocation Committee (FAAC) on Wednesday as May 2025 Federation Account Revenue to the federal, state and local governments.
This sum, which is the distributable revenue was from a gross revenue of N2.942 trillion which was available for the month of May, with total deduction for cost of collection standing at N111.908 billion while total transfers, interventions and refunds stood at N1.171 trillion.
The Director (Press and Public Relations) Department of the Office of the Accountant General of the Federation (OAGF), Bawa Mokwa made the disclosure, citing a communique issued at the end of the monthly FAAC meeting in Abuja.
The N1.659 trillion total distributable revenue comprised statutory revenue of N863.895 billion, Value Added Tax (VAT) revenue of N691.714 billion, Electronic Money Transfer Levy (EMTL) revenue of N27.667 billion and Exchange Difference revenue of N76.614 billion.
From the N1.659 trillion total distributable revenue, the federal government received N538.004 billion, state governments received N577.841 billion while the local governments got N419.968 billion.
The sum of N124.076 billion as 13 per cent mineral revenue was shared to the benefiting states as derivation revenue.
According to the communiqué, gross statutory revenue of N2.094 trillion was received for the month of May 2025. This was higher than the sum of N2.084 trillion received in the month of April 2025 by N10.023 billion.
A gross revenue of N742.820 billion was generated from VAT in May, representing N100.555 billion increase over the N642.265 billion garnered in the preceding month.
On the N863.895 billion distributable statutory revenue, the communiqué stated that the federal government received N393.518 billion, the state governments received N199.598 billion and the local governments got N153.881 billion.
The sum of N116.898 billion, being 13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
Out of the N691.714 billion distributable VAT revenue, the federal government received N103.757 billion, the state governments received N345.857 billion while the local governments received N242.100 billion.
During the month, N4.150 billion was received by the federal government from the N27.667 billion Electronic Money Transfer Levy (EMTL) compared to the state governments that got N13.833 billion and the local governments that shared N9.683 billion.
Also, from the N76.614 billion Exchange Difference revenue, the federal government got N36.579 billion, the states received N18.553 billion while local governments received N14.304 billion.
The sum of N7.178 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
In May, Companies Income Tax (CIT), VAT and Import Duty increased and Excise Duty marginally increased, CET Levies, Petroleum Profit Tax (PPT), Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL) revenues dropped.
Shell Confirms Investment in Bonga North Deep-water Project, Reaffirms Its Strategic Commitment To Nigeria’s Energy Sector
…formally introduced Shell’s Executive Vice President for Nigeria, Mr. Marno De-Jong.
Shell Petroleum Development Company (SPDC) Nigeria Limited has confirmed its capital investment in the Bonga North deep-water project and associated infrastructure—part of a broader $5 billion commitment, and the company’s first major project of its kind in Nigeria in over a decade.
The company stated that, doing so, is also to show its renewed commitment to Nigeria’s Energy Sector.
This was confirmed when a high-powered delegation from the company, led by the Managing Director and Country Chair, Osagie Okunbor paid a visit to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun in his office in Abuja, Wednesday.
In a statement, the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga disclosed that members of the delegation included the incoming Chairman of Shell Nigeria Exploration and Production Company (SNEPCO) and Executive Vice President for Nigeria, Mr. Marno De-Jong.
