Nigeria shares N2.094tr revenue
Nigeria distributed N2.094 trillion in federation account revenue among federal, state and local governments through allocations determined by the Federation Account Allocation Committee. The federal government received N758.405 billion, while states obtained N689.120 billion and local councils secured N505.803 billion, with an additional N141.359 billion directed to oil-producing regions as derivation payments.
Revenue sources included N1.376 trillion in statutory collections, N670.303 billion from value-added tax, and N47.870 billion through electronic money transfer levies. Petroleum profit tax, hydrocarbon tax, companies’ income tax, oil and gas royalty, import duty, excise duty and external tariff collections increased, though value-added tax and electronic transfer levy receipts declined compared with the prior month.
Total gross revenue reached N2.934 trillion before deductions for collection costs, transfers, interventions and savings. Statutory revenue increased by N36.832 billion, while value-added tax inflows dropped by N152.803 billion from the previous month.
