In a significant financial allocation, the Federal, State, and Local Governments of Nigeria shared a total of ₦1.678 trillion in revenue for February 2025, as disbursed by the Federal Account Allocation Committee (FAAC). The distribution was announced in a statement by Bawa Mokwa, Director of Press and Public Relations, following the FAAC meeting held in Abuja in March 2025.
The meeting, chaired by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, saw the attendance of key figures including the Accountant General of the Federation, Shamseldeen Ogunjimi. The allocated revenue stemmed from multiple sources: ₦827.633 billion in statutory revenue, ₦609.430 billion from Value Added Tax (VAT), ₦35.171 billion from the Electronic Money Transfer Levy (EMTL), ₦28.218 billion from solid minerals, and an additional augmentation of ₦178 billion.
According to the FAAC communiqué, the gross revenue available for February 2025 amounted to ₦2.344 trillion. However, deductions totaling ₦89.092 billion were made for collection costs, while ₦577.097 billion was set aside for transfers, interventions, refunds, and savings. The gross statutory revenue of ₦1.653 trillion for February marked a decline of ₦194.664 billion compared to January 2025’s figure of ₦1.848 trillion.
This allocation underscores the continued collaboration among Nigeria’s tiers of government to manage national revenue, despite a noticeable dip in statutory earnings from the previous month. The FAAC’s distribution ensures funding for critical governance and development initiatives across federal, state, and local levels.
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