In a key development for Nigeria’s fiscal landscape, the Federation Account Allocation Committee (FAAC) has distributed a total of N2.094 trillion to the Federal Government, state governments, and local councils as revenue for October 2025. The announcement was made following FAAC’s November meeting in Abuja, according to a statement by the Director of Press and Public Relations, Bawa Mokwa.
The total distributable revenue comprised N1.376 trillion in statutory revenue, N670.303 billion from Value Added Tax (VAT), and N47.870 billion from the Electronic Money Transfer Levy (EMTL). Overall, the committee reported a gross revenue of N2.934 trillion for October, from which N115.278 billion was deducted as the cost of revenue collection, and N724.603 billion was allocated to transfers, interventions, refunds, and savings.
A breakdown of the allocation shows that the Federal Government received N758.405 billion, state governments N689.120 billion, and local government councils N505.803 billion. Additionally, the derivation fund, which represents 13% of mineral revenue, provided N141.359 billion to benefiting states.
Examining the revenue components further:
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Statutory Revenue (N1.376 trillion): Federal Government – N650.680 billion; States – N330.033 billion; Local Governments – N254.442 billion; Derivation – N141.359 billion.
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VAT Revenue (N670.303 billion): Federal Government – N100.545 billion; States – N335.152 billion; Local Governments – N234.606 billion.
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EMTL (N47.870 billion): Federal Government – N7.180 billion; States – N23.935 billion; Local Governments – N16.755 billion.
The communiqué highlighted that gross statutory revenue for October reached N2.164 trillion, reflecting an increase of N36.832 billion over September’s N2.128 trillion. In contrast, VAT revenue declined to N719.827 billion from N872.630 billion in September, signaling a decrease of N152.803 billion.
Revenue from key sources such as Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty, Oil and Gas Royalties, Import Duty, Excise Duty, and CET Levies all saw notable growth in October. However, receipts from VAT, EMTL, and other fees experienced slight declines.
This revenue distribution underscores the government’s continued effort to fund national development and ensure that all tiers of government have the necessary resources to meet their obligations and sustain public services.
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