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FAAC: FG, States, LGs Share N1.681trn April 2025 Revenue

Published

4 months ago

May 17, 2025

Editor

The Federation Account Allocation Committee (FAAC) has shared a total sum of N1.681 trillion, being April 2025 Federation Account Revenue to the Federal, States and the Local Governments at the May 2025 meeting held in Abuja.

The N1.681 trillion total distributable revenue comprised distributable statutory revenue of N962.882 billion, distributable Value Added Tax (VAT) revenue of N598.077 billion, Electronic Money Transfer Levy (EMTL) revenue of N38.862 billion and Exchange Difference N81.407 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N2,848.721 trillion was available in the month of April 2025.

Total deduction for cost of collection was N101.051 billion while total transfers, interventions, refunds and savings was N1066.442 billion.

According to the communiqué, gross statutory revenue of N2,084.568 trillion was received for the month of April 2025.

This was higher than the sum of N1,718.973 trillion received in the month of March 2025 by N365.595 billion.

Gross revenue of N642.265 billion was available from the Value Added Tax (VAT) in April 2025. This was higher than the N637.618 billion available in the month of March 2025 by N4.647 billion.

The communiqué stated that from the N1,681. 228 trillion total distributable revenue, the Federal Government received total sum of N565.307 billion and the State Governments received total sum of N556.741 billion.

The Local government Council received N406.627 billion, while the sum of N152.553 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.

On the N962.882 billion distributable statutory revenue, the communiqué stated that the Federal Government received N431.307 billion and the State Governments received N218.765 billion.

The Local Government Councils received N168.659 billion and the sum of N144. 151 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

From the N598.077 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N89.712 billion, the State Governments received N299.039 billion and the Local Government Councils received N209.327 billion.

A total sum of N5.829 billion was received by the Federal Government from the N38.862 billion Electronic Money Transfer Levy (EMTL).

The State Governments received N19.431 billion and the Local Government Councils received N13.602 billion.

From the N81.407 billion Exchange Difference, the communiqué stated that the Federal Government received N38.459 billion and the State Governments received N19.507 billion.

The Local Government Councils received N15.039 billion, while the sum of N8.402 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

Bawa Mokwa Director (Press and Public Relations) said in April 2025, Petroleum Profit Tax(PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), Value Added Tax (VAT), Excise Duty, Import Duty and CET Levies increased significantly while Companies Income Tax (CIT) decreased considerably.

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NiMet Predicts Three-day Rain, Thunderstorms From Monday

Published

20 hours ago

September 21, 2025

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News

JUST IN: Ooni Visits Olubadan-designate Ladoja In Ibadan

Published

1 day ago

September 21, 2025

Editor

The Ooni of Ife, Oba Enitan Ogunwusi, on Sunday, paid a visit to the Olubadan designate, Rashidi Ladoja, at his Bodija private residence in Ibadan, Oyo State.

The PUNCH reports that Oba Ladoja will be installed as the 44th Olubadan on Friday, September 26, 2025, following the demise of the 43rd Olubadan, Oba Owolabi Olakulehin, who joined his ancestors on Monday, July 7, 2025, at the age of 90 years.

The two paramount rulers are currently exchanging pleasantries.

Details later…

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JUST IN: FG Revokes 1,263 Mineral Licenses Over Unpaid Fees

Published

1 day ago

September 21, 2025

Editor

The Federal Government through the Ministry of Solid Minerals Development has announced a fresh revocation of not less than 1,263 mineral licenses.

These licenses, which will now be deleted from the Electronic Mining Cadastral System portal of the Nigerian Mining Cadastral Office, include 584 exploration licenses, 65 mining leases, 144 quarry licenses, and 470 small-scale mining leases.

The minister of Solid Minerals Development, Dele Alake, gave the revocation announcement in a statement issued by his special assistant on Media, Segun Tomori, on Sunday in Abuja.

The minister explained that the directive was issued due to the companies’ failure to comply with the requirement of paying their annual service fees.

The latest revocation brings the total mineral titles revoked under the current administration to 3, 794 including,619 mineral titles revoked for defaulting in paying annual service fees and 912 for dormancy last year.

By opening up the areas formerly covered by these licenses, the revocation is expected to spur fresh applications by investors looking for fresh opportunities.

The statement read, “Not less than 1,263 mineral licenses will be deleted from the portal of the Electronic Mining Cadastral system of the Nigerian Mining Cadastral Office, MCO, following their revocation by the Federal Government.

“These include 584 exploration licenses, 65 mining leases, 144 quarry licenses, and 470 small-scale mining leases.”

Approving the revocation following the recommendation of the MCO, the Minister said applying the law to keep speculators and unserious investors away from the mining sector would make way for diligent investors and grow the sector.

“The era of obtaining licences and keeping them in drawers for the highest bidder, while financially capable and industrious businessmen are complaining of access to good sites, is over.

“The annual service fee is the minimum evidence that you are interested in mining. You don’t have to wait for us to revoke the license because the law allows you to return the license if you change your mind,” the minister said.

He warned that the revocation does not mean the Federal Government has pardoned the annual service debt owed by licensees, adding that the list will be forwarded to the Economic & Financial Crimes Commission to ensure that debtors pay or face the wrath of the law.

“This is to encourage due diligence and emphasise the consequences of inundating the license application processes with speculative activities.”

In the recommendation to the minister, the Director-General of the MCO, Simon Nkom, disclosed that there were 1,957 initial defaulters when the MCO published the intention to revoke licences in the Federal Government Gazette on June 19, 2025.

He informed the minister that the gazette was distributed to MCO offices nationwide to sensitise licencees and encourage them to comply within 30 days in compliance with the Minerals and Mining Act 2007 and relevant regulations.

He observed that the delay in the final recommendation was due to complaints of several licensees who claimed to have paid to the Federal Government through Remita and had to be reconciled.

Earlier this month, the DG MCO had hinted that more mining licences would be revoked as part of ongoing efforts to sanitise the solid minerals sector and protect investors from fraudsters.

According to Nkom, the clean-up exercise, which covers expired, speculative, and inactive titles, is necessary to make room for genuine investors and ensure compliance with the law.

This is part of ongoing efforts at sanitising the sector since the inception of the Tinubu administration, and the salutary effects of the reforms are massive and manifest despite the attempts to push back by defaulters and their agents.