FAAC: FG, states, LGs share N1.578trn for March

The Federation Account Allocation Committee (FAAC), on Monday, shared N1.578 trillion among the many Federal Authorities, states and the Native Authorities Councils (LGCs) for the month of March.

A communiqué issued by Bawa Mokwa, the Director, Press and Public Relations, Workplace of the Accountant-Basic of the Federation (OAGF), stated the income was shared on the April assembly of FAAC in Abuja.

The communiqué stated that the whole income of N1.578 trillion comprised statutory income of N931.325 billion, Worth Added Tax (VAT) income of N593.750 billion, and Digital Cash Switch Levy (EMTL) income of N24.971 billion.

“It additionally comprised Alternate Distinction income of N28.711 billion,” it stated.

It stated that complete gross income of N2.411 trillion was accessible within the month of March.

“Complete deduction for price of assortment was N85.376 billion, whereas complete transfers, interventions and refunds was N747.180 billion.

“Gross statutory income of N1.718 trillion was obtained for the month of March 2025. This was larger than the sum of N1.653 trillion obtained in February 2025 by N65.422 billion.

“Gross income of N637.618 billion was accessible from VAT. This was decrease than the N654.456 billion accessible in February by N16.838 billion,” it stated.

The communiqué stated that from the whole income of N1.578 trillion, the Federal Authorities obtained N528.696 billion and the State Governments obtained N530.448 billion.

It stated that the LGCs obtained complete sum of N387.002 billion, and a complete sum of N132.611 billion (13 per cent of mineral income) was shared to the benefiting states as derivation income.

“On the N931.325 billion statutory income, the Federal Authorities obtained N422.485 billion and the State Governments obtained N214.290 billion.

“The LGCs obtained N165.209 billion, and the sum of N129.341 billion (13 per cent of mineral income) was shared to the benefiting States as derivation income.

“From the N593.750 billion VAT income, the Federal Authorities obtained N89.063 billion, the State Governments obtained N296.875 billion and the LGCs obtained N207.813 billion,” it stated.

It stated that complete sum of N3.746 billion was obtained by the Federal Authorities from the N24.971 billion EMTL, whereas he State Governments obtained N12.485 billion and the LGCs obtained N8.740 billion.

In response to the communiqué, Petroleum Revenue Tax (PPT) and Firms Revenue Tax (CIT) elevated significantly whereas Oil and Fuel royalty, EMTL, VAT, Excise Obligation, Import Obligation and CET Levies recorded decreases.
(NAN)