The Federation Account Allocation Committee (FAAC) has distributed N1.703 trillion in revenue for January 2025 among the Federal Government, states, and Local Government councils. This marks a significant 19.6% increase (N279 billion) compared to December 2024's allocation of N1.424 trillion.

According to a statement released Thursday by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation, the distributed funds comprised:

- N749.727 billion in statutory revenue

- N718.781 billion from Value Added Tax

- N20.548 billion from Electronic Money Transfer Levy

- N214 billion in augmentation

Total gross revenue for January reached N2.641 trillion, slightly higher than December's N2.310 trillion. After deductions of N107.786 billion for collection costs and N830.663 billion for transfers, interventions, refunds, and savings, the remaining funds were distributed as follows:

- Federal Government: N552.591 billion

- State Governments: N590.614 billion

- Local Government Councils: N434.567 billion

- Derivation Revenue (13% mineral revenue): N125.284 billion

January's statutory revenue increased to N1.848 trillion, up from December's N1.226 trillion, while VAT revenue rose to N771.886 billion from N649.561 billion.

The communique noted improved collections from VAT, Petroleum Profit Tax, Companies Income Tax, Excise Duty, Import Duty, and CET Levies, while reporting significant decreases in EMTL and Oil and Gas Royalty receipts.​​​​​​​​​​​​​​​​