FAAC: FG, states, LGAs shared N2trn in October | Statutory revenue increased by N36bn

The Federation Account Allocation Committee (FAAC) has shared a total revenue of N2.09 trillion for October to the federal government, states and local government councils.

The figure represents a decrease of N9 billion or 0.42 percent compared to the N2.10 trillion distributed in September.

According to NAN, the allocation was made during FAAC’s November meeting held on Wednesday in Abuja.

The publication said a communique issued at the end of the meeting by Bawa Mokwa, director of press and public relations at the office of the accountant-general of the federation (OAGF), showed that the N2.09 trillion distributable revenue comprised N1.37 trillion in statutory revenue.

It also includes N670.30 billion from value added tax (VAT), and N47.87 billion from the electronic money transfer levy (EMTL).

FAAC said gross revenue available in October stood at N2.93 trillion.

The committee added that deductions for the cost of collection amounted to N115.27 billion, while N724.60 billion went to transfers, interventions, refunds and savings.

“Gross statutory revenue of N2.164 trillion was received for the month of October. This was higher than the sum of N2.128 trillion received in September 2025 by N36.832 billion,” the communique said.

“Gross revenue of N719.827 billion was available from the VAT. This is lower than the N872.630 billion available in September by N152.803 billion.”

FAAC said out of the N2.09 trillion distributable revenue, the federal government got N758.40 billion, while the states received N689.12 billion.

The communique added that local government councils were allocated N505.80 billion, and N141.35 billion (13 percent of mineral revenue) was paid to the benefiting states as derivation revenue.

“On the N1.376 trillion distributable statutory revenue, the Federal Government received N650.680 billion and the state governments received N330.033 billion,” the committee said.

“The LGCs received N254.442 billion and the sum of N141.359 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.”

FAAC said from the N670.30 billion VAT revenue, the federal government got N100.54 billion, states received N335.15 billion, and local government councils were allocated N234.60 billion.

The communique said from the N47.87 billion generated through the EMTL, the federal government received N7.18 billion, while states collected N23.93 billion and local governments got N16.75 billion.