The Federation Account Allocation Committee (FAAC) stated that it has allocated N2.094 trillion to the three tiers of government as the Federation Allocation for October.
It was disclosed at its November 2025 meeting, chaired by the Accountant-General of the Federation, Shamsudeen Ogunjimi, according to a statement signed by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga, on Wednesday, November 19.
The N2.094 trillion shares to the federal, states, and local governments were from a gross total of N2.934 trillion. It was lower than the N2.103 trillion shared in September.
FAAC said the total revenue distributable for October was drawn from statutory revenue of N1.376 trillion, value-added tax (VAT) of N670.303 billion and N47.870 billion from electronic money transfer levy (EMTL), bringing the total distributable amount for the month to N2.094 trillion.
From the amount, the federal government received N758.405 billion, the states received N689.120 billion, and the local government councils (LGCs) got N505.803 billion.
Additionally, the oil-producing states received N141.395 billion as derivation of 13 per cent of mineral revenue.
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It stated that N115.278 billion was given for the cost of collection, while N724.603 billion was allocated for transfers, intervention, and refunds.
In a communique at the end of the meeting, FAAC indicated that the gross revenue available from VAT was N719.827 billion as against N872.630 billion distributed in the preceding month, resulting in a decrease of N152.803 billion.
From the stated amount, the sum of N28.793 billion was allocated for the cost of collection, and the sum of N20.731 billion was given for transfers, intervention and refunds.
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It noted that the gross statutory revenue of N2.164 trillion received in October was higher than the sum of N2.128 trillion received in the previous month by N36.832 billion.
FAAC added that petroleum profit tax (PPT)/hydrocarbon tax (HT) and company income tax (CIT) on upstream activities, company income tax (CIT)/CGT and SDT, oil and gas royalty, import duty, excise duty, and CET levies increased significantly, while VAT, EMTL, and fees recorded a decrease.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
