This is according to a statement on Thursday by the Director of Press and Public Relations, Office of the Accountant General of the Federation, Bawa Mokwa.

Mokwa said that the revenue was shared at the February Federation Account Allocation Committee meeting on Thursday in Abuja.

Meanwhile, a communiqué from the FAAC meeting said that the N1.703 trillion total revenue comprised statutory revenue of N749.727 billion, and Value Added Tax revenue of N718.781 billion.

It also comprised Electronic Money Transfer Levy revenue of N20.548 billion and Augmentation of N214 billion.

It also comprised Electronic Money Transfer Levy revenue of N20.548 billion and Augmentation of N214 billion.

The communiqué indicated that a total gross revenue of N2.641 trillion was available in January 2025.

It said that the total deduction for the cost of collection was N107.786 billion while total transfers, interventions, and refunds were N830.663 billion.

“Gross statutory revenue of N1.848 trillion was received for the month of January 2025. This was higher than the sum of N1.226 trillion received in the month of December  2024 by N622.125 billion,” the statement read.

“Gross revenue of N771.886 billion was available from the Value Added Tax (VAT) in January 2025. This was higher than the N649.561 billion available in the month of December 2024 by N122.325 billion.”

The communiqué said that from the N1.703 trillion total distributable revenue, the Federal Government received the total sum of N552.591 billion, while the state governments received the sum of N590.614 billion.

It said that the LGCs received N434.567 billion, and a total sum of N125.284 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

“On the N749.727 billion distributable statutory revenue, the Federal Government received N343.612 billion and the state governments received N174.285 billion.