FAAC Disburses Record ₦2.001 Trillion to Federal, State, and Local Governments for July 2025
The Federation Account Allocation Committee (FAAC) has announced the distribution of a record-breaking ₦2.001 trillion among the three tiers of government for July 2025. This significant allocation reflects the nation's ongoing efforts to bolster economic stability and ensure equitable resource distribution.
Breakdown of Allocation:
- Federal Government: ₦735.081 billion
- State Governments: ₦660.349 billion
- Local Government Councils: ₦485.039 billion
- Oil-Producing States (13% Derivation): ₦120.359 billion
The total distributable revenue of ₦2.001 trillion comprises:
- Statutory Revenue: ₦1.282 trillion
- Value Added Tax (VAT): ₦640.610 billion
- Electronic Money Transfer Levy (EMTL): ₦37.601 billion
- Exchange Difference: ₦39.745 billion
Deductions and Transfers:
- Cost of Collection: ₦152.681 billion
- Transfers, Interventions, Refunds, and Savings: ₦1.683 trillion
The FAAC meeting, chaired by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighted the positive impact of recent economic reforms. Minister Edun emphasized the importance of prudent fiscal management to sustain economic growth and stability.
This substantial disbursement underscores the federal government's commitment to equitable resource allocation and economic revitalization across all levels of government.
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