…VAT, CIT, import duties rise
The Federation Account Allocation Committee (FAAC) disbursed a total of N1.659 trillion in revenue to the federal government, states, and local government councils for May 2025, according to a press release from the Office of the Accountant General of the Federation (OAGF).
The monthly FAAC meeting, held in Abuja, confirmed that the N1.659 trillion shared included distributable statutory revenue of N863.895 billion, Value Added Tax (VAT) revenue of N691.714 billion, Electronic Money Transfer Levy (EMTL) revenue of N27.667 billion, and Exchange Difference revenue of N76.614 billion.