The Federal, State and Local Governments have shared ₦2.338 trillion in Federation Account revenue for August.
But behind the big figure is a sharp drop in statutory revenue, even as Value Added Tax collections continue to hold up.
The latest Federation Account Allocation Committee figures show that total distributable revenue for August fell by about ₦669 billion from the ₦3.007 trillion shared from July earnings.
According to a release by the Office of the Accountant General of the Federation, the August distribution came from ₦1.565 trillion in statutory revenue and ₦773.233 billion in VAT.
The major pressure came from statutory revenue, with gross collections falling to ₦2.850 trillion from ₦4.359 trillion recorded in July.
The figures represent a drop of about ₦1.508 trillion in gross statutory revenue in just one month.
VAT, however, moved in the opposite direction.
Gross VAT revenue increased to ₦834.843 billion in August, up by ₦40.875 billion from July.
The Accountant General’s Office says Petroleum Profit Tax, Hydrocarbon Tax, VAT, Common External Tariff levies and Excise Duty recorded significant increases, while Companies Income Tax, Capital Gains Tax, Stamp Duty, petroleum and mineral royalties, and some oil-related revenues declined.
From the ₦2.338 trillion distributed, the Federal Government received ₦804.897 billion, states received ₦794.313 billion, while Local Government Councils got ₦555.142 billion.
Oil-producing states also received ₦184.388 billion as 13% derivation revenue.
The latest figures point to a revenue picture that remains substantial in absolute terms but highly sensitive to movements in statutory and oil-linked receipts.
And with the three tiers of government depending heavily on monthly FAAC inflows to fund recurrent obligations and public services, the sharp month-on-month swing reinforces the need for more predictable and sustainable revenue sources.
(Follow AIT News on WhatsApp, AfricaIndependentTV on YouTube, ait_online on Facebook and X (Formerly Twitter), and officialait on TikTok, Instagram and Threads)
Editor: Ada Ononye
