FAAC JULY MEETING

FAAC

FAAC JULY MEETING

FAAC

FAAC JULY MEETING

The Office of the Accountant General of the Federation announce that a total of N1.818 trillion Naira, representing the Federation Account Revenue for June 2025, has been disbursed among the Federal Government, State Governments, and Local Government Councils.

This is coming after the July 2025 Federation Account Allocation Committee, FAAC meeting in Abuja.
A breakdown of the gross statutory revenue show significant increase, with N3.485 trillion received in June 2025, a rise of N1.390 trillion compared to the N2.094 trillion recorded in May 2025. However, gross revenue from Value Added Tax saw a decrease, falling by N64.655 billion from N742.820 billion in May to N678.165 billion in June.

The communique further indicates significant increases in Companies Income Tax (CIT), Petroleum Profit Tax (PPT), and Electronic Money Transfer Levy (EMTL). However, there were considerable decreases in revenue from Oil and Gas Royalty, Value Added Tax (VAT), Import Duty, Excise Duty, and CET Levies.