FAAC distributes N2.094trn to Federal, State, LGs for October

The Federation Account Allocation Committee (FAAC) has allocated a total of N2.094 trillion to the Federal Government, state governments, and local councils as revenue for October 2025.

The announcement was made on Wednesday in a statement by Bawa Mokwa, Director of Press and Public Relations, following FAAC’s November 2025 meeting in Abuja.

According to the statement, the N2.094 trillion distributable revenue comprised:

N1.376 trillion statutory revenue

N670.303 billion Value Added Tax (VAT) revenue

N47.870 billion Electronic Money Transfer Levy (EMTL)

A communiqué issued after the meeting showed that N2.934 trillion was the gross revenue for October. From this amount, N115.278 billion was deducted as the cost of collection, while N724.603 billion went to transfers, interventions, refunds, and savings.

The communiqué noted that gross statutory revenue for October stood at N2.164 trillion, an increase of N36.832 billion over the N2.128 trillion recorded in September. VAT revenue for October was N719.827 billion, a decrease of N152.803 billion from N872.630 billion in September.

Breakdown of the N2.094 trillion shared

Federal Government: N758.405 billion

State Governments: N689.120 billion

Local Government Councils: N505.803 billion

Derivation (13% mineral revenue): N141.359 billion to benefiting states

Breakdown by revenue components

Statutory Revenue – N1.376 trillion

FG: N650.680 billion

States: N330.033 billion

LGs: N254.442 billion

Derivation: N141.359 billion

VAT Revenue – N670.303 billion

FG: N100.545 billion

States: N335.152 billion

LGs: N234.606 billion

EMTL – N47.870 billion

FG: N7.180 billion

States: N23.935 billion

LGs: N16.755 billion

The communiqué added that in October 2025, revenues from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), Oil and Gas Royalties, Import Duty, Excise Duty, and CET Levies all recorded significant increases. However, receipts from VAT, EMTL, and Fees declined.