Big Cash Boost for Federal, State, and Local Govts as FAAC Shares Huge N2.55 Trillion Monthly Revenue

Federal, state, and local governments across the country have received a major financial boost after the Federation Account Allocation Committee (FAAC) distributed N2.55 trillion in generated monthly revenue.

The latest payout reflects a 10.9 percent increase—representing roughly N250 billion more—compared to the amount shared in the previous month. The total distributable cash pool was made up of N1.809 trillion in statutory earnings and N740.724 billion collected from Value Added Tax (VAT).

From the overall distribution, the Federal Government secured N923.438 billion, while the 36 State Governments received N838.208 billion. The 774 Local Government Councils went home with N591.390 billion, and oil-producing states shared N197.610 billion as their 13 percent derivation allocation. Gross earnings generated for the period stood at N4.500 trillion before standard deductions were made for collection costs, refunds, and statutory transfers.

The revenue jump was largely propelled by stronger tax collections and customs receipts across the economy. Noticeable surges were recorded in Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Royalties, Gas Flaring penalties, and Import Duties, offsetting slight declines recorded in Petroleum Profit Tax and mineral fees.