The Federation Account Allocation Committee (FAAC), has disbursed a total sum of N2.094 trillion to the federal, state and local governments as Federation Allocation for the month of October 2025.
The disbursement, which was made during the monthly meeting of the committee in Abuja, Wednesday, was from a gross total of N2.934 trillion garnered during the month of October.
The shared amount comprised Gross 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, a statement issued by Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga,, said.
Citing the communique issued at the end of the meeting chaired by Accountant General of the Federation (AGF), Shamsudeen Ogunjimi, the statement disclosed that the federal government received N758.405 billion while the states received N689.120 billion.
Local government councils got N505.803 billion, while the oil producing states received N141.395 billion as 13 per cent Derivation (13 per cent of mineral revenue).
The sum of N115.278 billion was for the cost of collection, while N724.603 billion was allocated for Transfers, Intervention and Refunds.
The gross revenue available from VAT for the month of October was N719.827 billion, as against N872.630 billion distributed in the preceding month, signifying a decrease of N152.803 billion.
From the stated amount, the sum of N28.793 billion was allocated for the cost of collection, N20.731 billion for Transfers, Intervention and Refunds.
The balance of N670.303 billion was distributed to the three tiers of government, with the federal government getting N100.545 billion, the states– N335.152 billion, and local government councils, N234.606 billion.
The statement said Gross Statutory Revenue of N2.164 trillion received for the month was higher than N2.128 trillion received in the previous month by N36.832 billion.
From the stated amount, N84.490 billion was allocated for the cost of collection while a total sum of N703.872 billion for Transfers, Intervention and Refunds.
The balance of N1.376 trillion was distributed to the three tiers of government as follows: Federal Government, N650.680 billion; states, N330.033 billion; while N254.442 billion was allocated to local councils, and N141.395 billion was for 13 per cent derivation.
The sum of N49.865 billion from Electronic Money Transfer Levy (EMTL) was distributed to the three tiers of government. The federal government received N7.180 billion, states got N23.935 billion, local government councils received N16.755 billion, while N1.995 billion was allocated for cost of collection.
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 during the reference month, while VAT, EMTL, and fees recorded decreases.
Ndubuisi Francis
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