Federal government got N36.579 Billion, the State received N18.553 Billion, the LGCs got N14.304 Billion, while the Oil producing States received N7.178 Billion.
Companies Income Tax, CIT, Value Added Tax, VAT, and Import Duty increased significantly, while Petroleum Profit Tax, PPT, CET levies, Oil and Gas Royalty and Electronic Money Transfer Levy, EMTL, recorded decreases.
Excise Duty increased only marginally.
According to the Communique, the total revenue distributable for the current month of May 2025, was drawn from Statutory Revenue of N863.895 Billion, VAT of N691.714 Billion, N27.667 Billion from Electronic Money Transfer Levy and the sum of N76.614 Billion from Exchange Difference, bringing the total distributable amount for the month to N1.659 Trillion.
In his opening remarks, the Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun emphasized the importance of transparency, accountability, and prudent fiscal management in revenue allocation processes.
He commended the FAAC members commitment in the realization of this policy objectives of government,
stating that the collective efforts aim to drive economic growth, stability, and development across all regions, ensuring resources are utilized effectively for the benefit of all Nigerians.
