The Federal Government, states, and Local Government councils have shared a total of N1.703tn in Federation Account revenue for January 2025.
This amount represents an increase of 19.6 per cent or N279bn from the N1.424tn shared from December 2024 revenue.
According to a press release by the Director (Press and Public Relations) at the Office of the Accountant General of the Federation, Bawa Mokwa, on Thursday, the N1.703tn total distributable revenue comprises N749.727bn in statutory revenue, N718.781bn in Value Added Tax revenue, N20.548bn from the Electronic Money Transfer Levy, and N214bn in augmentation.
The statement was based on a communique issued by the Federation Account Allocation Committee after its monthly meeting. It noted that the total gross revenue for January 2025 amounted to N2.641tn, which was slightly higher than the N2.310tn December 2024 gross revenue.
The statement read, “A communiqué issued by the Federation Account Allocation Committee stated that total gross revenue of N2.641tn was available in the month of January 2025.
“Total deduction for cost of collection was N107.786bn while total transfers, interventions, refunds and savings was N830.663bn.”
