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FAAC shares N1.578tr to federal, states, councils for March 2025
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Monthly disbursements to the federal, states and local government areas dropped for the third consecutive time yesterday. The Federation Account Allocation Committee (FAAC) shared N1.58 trillion to the three tiers for March
The committee announced N2. 411 trillion as the total revenue generated in March at its April meeting in Abuja yesterday.
The total distributable revenue comprised N931.325 billion from statutory sources, N593.750 billion from Value Added Tax (VAT), N24.971 billion from the Electronic Money Transfer Levy (EMTL) and N28.711 billion from Exchange Difference revenue.
According to the communiqué issued by FAAC, the gross revenue available for March stood at N2.411 trillion. The deductions for cost of collection stood N85.376 billion, while N747.180 billion went to transfers, interventions and refunds accounted consumed.
Despite the lower net revenue available for distribution, the March statutory revenue of N1.718 trillion showed an increase of N65.422 billion over the N1.653 trillion received in February.
However, revenue from Value Added Tax (VAT) dropped to N637.618 billion last month from the February figure of N654.456 billion – a decrease of N16.838 billion.
From the total distributable sum of N1.578 trillion, the federal government received N528.696 billion; states collectively got N530.448 billion, while the 774 local government areas received N387.002 billion. Additionally, N132.611 billion – representing 13 per cent of mineral revenue – was allocated to oil-producing states as derivation revenue.
The breakdown of the N931.325 billion statutory revenue shows that the federal government took N422.485 billion, the states got N214.290 billion and N165.209 billion shared to the councils. The oil-producing states received N129.341 billion from this component as derivation revenue.
From the VAT pool of N593.750 billion, the federal government got N89.063 billion, states got N296.875 billion and the local government areas got N207.813 billion.
For the EMTL revenue of N24.971 billion, the federal government took N3.746 billion, states received N12.485 billion and local government areas went home with N8.740 billion.
In the case of Exchange Difference revenue of N28.711 billion, the federal government received N13.402 billion, states N6.798 billion and local government areas was allocated N5.241 billion. A further N3.270 billion from this revenue was distributed as 13 per cent derivation to oil-producing states.
A deeper look into the revenue trends shows that while Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) increased significantly during the month under review, several other key sources witnessed declines.
These include Oil and Gas royalty, EMTL, VAT, Excise Duty, Import Duty, and Common External Tariff (CET) Levies.
The Nigerian National Petroleum Company Limited, NNPCL, has slashed its fuel pump price for the second time within four days.
A market survey on Saturday by DAILY POST showed that NNPCL retail outlets around Airport Junction and Wuse Zone 6 (Berger) in Abuja have reduced their petrol price to N1210 per litre, down from N1260.
This means that the state-owned oil firm slashed the petrol price by N50 per litre.
This comes barely two days after Dangote Refinery reduced its petrol gantry price by N50 to N1,125 per litre.
Recall that four days ago, NNPCL had adjusted its fuel price pump by N75 per litre to N1260.
With the latest drop by NNPCL retail outlets, petrol prices stand between N1210 per litre and N1305 per litre in Abuja and its environs.
The reduction in domestic fuel comes amid falling crude oil prices, which stand at $69 per barrel and $71 per barrel for West Texas Intermediate and Brent crude, respectively, following the easing of the conflict in the Middle East.
Recall that President Bola Tinubu has kept mum amid the clamour by Nigerians for a commensurate drop in domestic fuel pump prices due to the significant reduction in crude oil prices.
The Independent National Electoral Commission, INEC, has said it is yet to receive the Certified True Copy, CTC, of the Federal High Court judgment that set aside an earlier order directing it to register the Nigeria Democratic Congress, NDC, as a political party.
INEC revealed this in a statement issued on Saturday by its Chief Press Secretary and Media Adviser to the Chairman, Adedayo Oketola.
According to the commission, although it is aware of media reports on the judgment delivered by the Federal High Court sitting in Lokoja on June 26, it cannot comment on the ruling until it obtains and reviews the certified copy.
The Independent National Electoral Commission, INEC, is aware of reports circulating in the media regarding the judgment delivered on Friday, June 26, 2026, by the Federal High Court sitting in Lokoja, which set aside an earlier order concerning the registration of the Nigeria Democratic Congress.
“However, as of this moment, the Commission has not yet received the Certified True Copy, CTC, of the court’s order,” the statement said.
INEC stated that its legal department would study the judgment upon receipt of the CTC before advising the commission on the next course of action.
“Once the Commission’s legal department receives and thoroughly studies the CTC of the judgment, INEC will take an informed, lawful decision in line with the court’s directives.
“Until then, we cannot comment on the specifics of the ruling, and the public is urged to await the Commission’s formal position on the matter,” Oketola added.
Justice Isah Dashen of the Federal High Court in Lokoja had on Friday set aside the court’s December 10, 2025, judgment directing INEC to register the NDC as a political party.
The court held that the rights of the Peace Movement Party were affected by the earlier judgment because it was not joined in the suit despite claiming ownership of the logo relied upon in securing the registration order.
Justice Dashen consequently ordered that all parties be restored to the positions they occupied before the December 2025 judgment and directed that the substantive suit be heard afresh with all necessary parties joined.
The NDC has rejected the ruling and announced plans to appeal the decision. Its National Chairman, Senator Moses Cleopas, maintained that the party had not been deregistered and argued that the trial court lacked jurisdiction to revisit a matter on which it had already delivered a final judgment.
The ruling has also attracted reactions from opposition figures, including the NDC’s presidential candidate, Peter Obi, the party’s National Leader, Senator Henry Dickson, and other stakeholders, who described the decision as a threat to Nigeria’s multiparty democracy and vowed to challenge it through all available legal channels.
INEC, however, maintained that it would reserve its position on the judgment until it receives and reviews the Certified True Copy.
A joint police operation rescued five victims abducted near Ogbere Forest in Ogun state on Wednesday.
They were rescued within 25 hours by the Lagos and Ogun Police Commands, which were part of a joint operation codenamed KOSAYE, meaning “No Space” in Yoruba.
The woman was among the victims who were shot in the incident. Her daughter and sister were among those rescued by the police on Thursday.
NNPC slashes petrol price twice within four days
Lokoja Court order: INEC speaks on NDC, says it’s yet to receive CTC
Just in: Police rescue five abductees in Ogun
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