1 month ago
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The Federation Account Allocation Committee (FAAC), astatine its September 2025 meeting, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, allocated N2.225 trillion to the 3 tiers of authorities arsenic federation allocation for August 2025 from a gross full of N3.635 trillion.
From the stated amount, inclusive of gross statutory revenue, Value Added Tax (VAT), physics wealth transportation levy, and speech complaint gain, the national authorities received N810.047 billion, the states got N709.831 billion, and section authorities areas got N522.228 billion. Oil-producing states were fixed N183.012 gillion arsenic derivation (13% of mineral revenue).
N124.839 cardinal was allocated for the outgo of collection, portion N1.285 trillion was allocated for transfers, Interventions, and refunds.
A connection issued by the Federal Ministry of Finance indicated that the gross gross disposable from the VAT for the period of August 2025 was N722.619 billion, arsenic against N687.940 cardinal distributed successful the preceding month, resulting successful an summation of N34.679 billion.
From that amount, N28.905 cardinal was allocated for the outgo of postulation to revenue-generating agencies, and N20.811 cardinal was fixed for transfers, Interventions, and refunds.
The remaining sum of N672.903 cardinal was distributed to the 3 tiers of government, of which the national Government received N100.935 billion, the states received N336.452 billion, and the LGAs received N235.516 billion.
Accordingly, the statutory gross of N2.838 trillion received for the period was N231.913 trillion little than the sum of N3.070 trillion received successful the erstwhile month.
From the stated amount, N94.587 trillion was allocated for the outgo of collection, and N1.265 trillion was allocated for transfers, intervention, and refunds.
The remaining equilibrium of N1.478 trillion was distributed to the 3 tiers of government: the FG received N684.462 billion, the States received N347.168 billion, N267.652 cardinal was allocated to LGAs, and N179.311 cardinal was fixed to Derivative Revenue (13% mineral-producing states).
Also, the sum of N33.685 cardinal from wealth transfers was distributed to the 3 tiers of authorities arsenic follows: the Federal authorities received N4.851 billion, states got N16.169 billion, LGAs received N11. 318 billion, and N1.347 cardinal was allocated for the outgo of collection.
The connection mentioned the sum of N41.284 cardinal from speech difference, which was distributed to the 3 tiers of authorities arsenic follows: the national authorities received N19.799 billion, the authorities received N10.042 billion, the LGAs received N7.742 billion, and the oil-producing States received N3.701 billion.
Oil and state royalty, VAT, and CET levies accrued significantly, portion petroleum nett tax, import duty, physics wealth transfer, companies’ income taxation and excise work recorded decreases.
The full gross distributable for the existent period of August 2025 was drawn from statutory gross of N1.478 trillion, VAT of N672.903 billion, N32.338 cardinal from wealth transportation levy, and the sum of N41.284 cardinal from speech difference, bringing the full distributable magnitude for the period to N2.225 trillion.
In his opening remarks, the Minister of Finance commended the FAAC committee for its diligent efforts successful ensuring the effectual allocation of resources to the assorted tiers of government.
He noted that the national government’s economical reforms are yielding affirmative results and that our corporate efforts volition proceed to thrust maturation and development.
The Minister assured america that amended days would travel and expressed optimism astir the aboriginal of our economy. “As we proceed to enactment together, I impulse america to prioritise prudent absorption of nationalist resources, ensuring that our nation’s wealthiness is utilised efficaciously to conscionable the needs of our citizens,” Edun emphasised.
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