The gross revenue available for the federation in July fell from N3.485 trillion received in the month of June 2025 to N3.070 trillion, indicating a drop of N415.108 billion.

This is even as the Federation Account Allocation Committee (FAAC) has distributed a total of N2.001 trillion as the Federation Account Revenue for July 2025 to the federal, state, and local councils.

The revenue was shared at the August 2025 FAAC meeting held in Abuja. FAAC, in a communique issued at the end of the meeting on Friday, indicated that in July 2025, Petroleum Profit Tax (PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), and Excise Duty increased significantly, while Value Added Tax (VAT) and import duty increased marginally.

It added that revenue from Companies Income Tax (CIT) and Common External Tariff (CET) levies recorded decreases. It said the N2.001 trillion total distributable revenue comprised distributable statutory revenue of N1.283 trillion, distributable VAT revenue of N640.610 billion, EMTL revenue of N37.601 billion, and Exchange Difference of N39.745 billion.

The communiqué noted that total gross revenue of N3,836.980 trillion was available in the month of July 2025. It revealed that total deduction for cost of collection was N152.681 billion, while total transfers, interventions, refunds, and savings were N1.68 trillion.

According to the communiqué made available to newsmen by the Director, Press and Public Relations, Office of the Accountant General of the Federation, Mr. Bawa Mokwa, gross revenue of N687.940 billion was available from the VAT in July 2025. This was higher than the N678.165 billion available in the month of June 2025 by N9.775 billion.

The communiqué stated that from the N2.001 trillion total distributable revenue, the Federal Government received a total sum of N735.081 billion, the state governments received a total sum of N660.349 billion, the local councils received N485.039 billion, while the sum of N120.359 billion (13 per cent of mineral revenue) was shared with the benefitting states as derivation revenue.

On the N1.283 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N613.805 billion, the state governments received N311.330 billion, the local councils received N240.023 billion, while the sum of N117.714 billion (13 per cent of mineral revenue) was shared with the benefiting states as derivation revenue.

It added that from the N640.610 billion distributable VAT revenue, the Federal Government received N96.092 billion, the state governments received N320.305 billion, while the local councils received N224.214 billion.

The communiqué stated that from the N39.745 billion exchange difference, the Federal Government received N19.544 billion, the state governments received N9.913 billion, the local councils received N7.643 billion, while the sum of N2.643 billion (13 per cent of mineral revenue) was shared with the benefiting states as derivation revenue.