The three tiers of Nigerian government—federal, state, and local government councils—have collectively shared a total of N2.001 trillion as the Federation Account Revenue for July 2025. This significant milestone marks the first time the country's revenue has reached the N2 trillion mark, according to reports from the August 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja. The precise total distributable revenue for the period amounted to N2,000.828 billion, a figure slightly rounded up to the N2.001 trillion announced.

The N2,000.828 billion total distributable revenue was comprised of several key streams: distributable statutory revenue contributed N1,282.872 billion; distributable Value Added Tax (VAT) revenue accounted for N640.610 billion; Electronic Money Transfer Levy (EMTL) revenue added N37.601 billion; and Exchange Difference provided N39.745 billion. A communiqué released by FAAC and made available to the public by Bawa Mokwa, spokesperson for the Office of the Accountant General of the Federation, provided detailed insights into these figures.

Analyzing the gross revenues, the country received N3,070.127 trillion in gross statutory revenue for July 2025. This represented a decrease of N415.108 billion compared to the N3,485.235 trillion received in June 2025. Conversely, the gross revenue from Value Added Tax (VAT) saw an increase, with N687.940 billion available in July 2025, which was N9.775 billion higher than the N678.165 billion recorded in June 2025. The total gross revenue available in July 2025 from all sources was N3,836.980 trillion, from which total deductions for cost of collection were N152.681 billion, and total transfers, interventions, refunds, and savings amounted to N1.683471 trillion.

The N2,000.828 billion total distributable revenue was allocated as follows: the Federal Government received the largest share of N735.081 billion; State Governments received N660.349 billion; and the Local Government Councils received N485.039 billion. Additionally, a sum of N120.359 billion, representing 13% of mineral revenue, was shared with the benefiting states as derivation revenue.

Breaking down the distribution from specific revenue components, from the N1,282.872 billion distributable statutory revenue, the Federal Government received N613.805 billion, State Governments received N311.330 billion, and Local Government Councils received N240.023 billion. The derivation revenue from this component was N117.714 billion. From the N640.610 billion distributable VAT revenue, the Federal Government received N96.092 billion, State Governments received N320.305 billion, and Local Government Councils received N224.214 billion. For the N37.601 billion EMTL revenue, the Federal Government received N5.640 billion, State Governments received N18.801 billion, and Local Government Councils received N13.160 billion. Finally, from the N39.745 billion exchange difference, the Federal Government received N19.544 billion, State Governments received N9.913 billion, and Local Government Councils received N7.643 billion, with N2.643 billion allocated as derivation revenue.

In terms of revenue performance for July 2025, several tax categories showed significant increases, including Petroleum Profit Tax (PPT), Oil and Gas Royalty, Electronic Money Transfer Levy (EMTL), and Excise Duty. Value Added Tax (VAT) and Import Duty recorded marginal increases, while Companies Income Tax (CIT) and CET levies experienced decreases during the period.