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Nigerian govt, states, LGs shared N1.7tn revenue in February - FAAC reports

  • In February, the Federation Account Allocation Committee shared N1.678 trillion among the Federal Government, states, and Local Government Councils.
  • The Federal Government received N569.656 billion, while state governments received N562.195 billion, and the Local Government Councils received N410.559 billion.
  • The total gross revenue available was N2.344 trillion, with deductions for the cost of collection totaling N89.092 billion.
  • Significant increases were noted in Oil and Gas Royalties and Electronic Money Transfer Levy, while VAT and other taxes experienced decreases.
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CoreTV News broke the news in on Saturday, March 22, 2025.
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