FG, States, LGs Share N2.094trn in October – FAAC
The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.094 trillion among the federal, state, and local governments for October 2025.
The disbursement was made during FAAC’s November meeting in Abuja, chaired by the Accountant-General of the Federation, Shamsudeen B. Ogunjimi.
The allocation came from a gross total revenue of N2.934 trillion, comprising Gross Statutory Revenue, Value Added Tax (VAT), and the Electronic Money Transfer Levy (EMTL).
According to the communiqué issued at the end of the meeting, the Federal Government received N758.405 billion, states got N689.120 billion, while local government councils received N505.803 billion. Oil-producing states also received N141.395 billion as 13 percent derivation.
FAAC disclosed that N115.278 billion was set aside as the cost of collection, while N724.603 billion was earmarked for transfers, interventions, and refunds.
On VAT, the committee reported a gross revenue of N719.827 billion for October—representing a decline of N152.803 billion from the N872.630 billion recorded in September. From this amount, N28.793 billion was deducted as cost of collection, and N20.731 billion for transfers and refunds. The balance of N670.303 billion was distributed to the three tiers of government:
Federal Government – N100.545 billion
States – N335.152 billion
Local Government Councils – N234.606 billion
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FAAC also announced that gross statutory revenue for October rose to N2.164 trillion, up by N36.832 billion from the N2.128 trillion recorded in September.
From the statutory revenue, N84.490 billion was allocated for the cost of collection, while N703.872 billion went to transfers, interventions, and refunds. The remaining N1.376 trillion was shared as follows:
Federal Government – N650.680 billion
States – N330.033 billion
Local Governments – N254.442 billion
Derivation (13% for oil-producing states) – N141.395 billion
The committee further reported that N49.865 billion from EMTL was shared, with the Federal Government receiving N7.180 billion, states N23.935 billion, and LGs N16.755 billion, while N1.995 billion was set aside as the cost of collection.
FAAC attributed the improved statutory revenue to significant increases in Petroleum Profit Tax/Hydrocarbon Tax, Company Income Tax on upstream activities, Capital Gains Tax, Stamp Duty, oil and gas royalties, import duty, excise duty, and levies under the Common External Tariff (CET). However, it noted decreases in VAT, EMTL, and fees.
The committee stated that the total distributable revenue for October was drawn from N1.376 trillion statutory revenue, N670.303 billion VAT, and N47.870 billion EMTL, amounting to the shared N2.094 trillion.
The statement was signed by Mohammed Manga, FCIA, Director of Information and Public Relations at the Federal Ministry of Finance.
By PRNigeria
