The three tiers of government on Monday shared the sum of N1.57 trillion as revenue allocation for March.
The Director of Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, disclosed this in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting in Abuja.
The communiqué was made available to journalists on Tuesday in Abuja.
According to the communiqué, total revenue of N1.578 trillion comprised statutory revenue of N931.325 billion, Value Added Tax (VAT) revenue of N593.750 billion, and Electronic Money Transfer Levy (EMTL) revenue of N24.971 billion.
It read: “It also comprised Exchange Difference revenue of N28.711 billion.
“The total gross revenue of N2.411 trillion was available in March.
“Total deduction for cost of collection was N85.376 billion, while total transfers, interventions, and refunds was N747.180 billion.
“Gross statutory revenue of N1.718 trillion was received for March 2025. This was higher than the sum of N1.653 trillion received in February 2025 by N65.422 billion.
“Gross revenue of N637.618 billion was available from VAT. This was lower than the N654.456 billion available in February by N16.838 billion.
“From the total revenue of N1.578 trillion, the Federal Government received N528.696 billion and the State Governments received N530.448 billion.
“The LGCs received a total sum of N387.002 billion, and a total sum of N132.611 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
“On the N931.325 billion statutory revenue, the Federal Government received N422.485 billion and the State Governments received N214.290 billion.
“The LGCs received N165.209 billion, and the sum of N129.341 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.
“From the N593.750 billion VAT revenue, the Federal Government received N89.063 billion, the State Governments received N296.875 billion, and the LGCs received N207.813 billion.”
“A total sum of N3.746 billion was received by the Federal Government from the N24.971 billion EMTL, while the State Governments received N12.485 billion and the LGCs received N8.740 billion.
“The Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased considerably while Oil and Gas royalty, EMTL, VAT, Excise Duty, Import Duty, and CET Levies recorded decreases.”
© Ripples Nigeria
