The Federation Account Allocation Committee (FAAC) on Wednesday shared a total of N2.094 trillion as revenue for October 2025 among the Federal Government, states and local government councils.
The figure represents a marginal decline of N9 billion or 0.43 per cent when compared with the N2.103 trillion shared in September.
This is contained in a statement issued by the Director of Press and Public Relations, Office of the Accountant-General of the Federation, Mr Bawa Mokwa, at the end of the FAAC meeting in Abuja.
According to the communiqué, the N2.094 trillion comprised N1.376 trillion statutory revenue, N670.303 billion Value Added Tax (VAT), and N47.870 billion from the Electronic Money Transfer Levy (EMTL).
FAAC said the total gross revenue for the month was N2.934 trillion, from which N115.278 billion was deducted as the cost of collection, while N724.603 billion was set aside for transfers, interventions, refunds and savings.
It stated that gross statutory revenue rose to N2.164 trillion, higher than the N2.128 trillion recorded in September, while gross VAT revenue dipped to N719.827 billion from N872.630 billion in the previous month.
From the distributable pool, the Federal Government received N758.405 billion, states received N689.120 billion, while the 774 local government councils got N505.803 billion.
Oil-producing states received N141.359 billion as 13 per cent derivation.
A breakdown showed that from the N1.376 trillion statutory revenue, the Federal Government received N650.680 billion, states received N330.033 billion, while local governments got N254.442 billion.
The 13 per cent derivation amounting to N141.359 billion was also drawn from the statutory component.
From the VAT revenue of N670.303 billion, the Federal Government received N100.545 billion, states received N335.152 billion, while local governments got N234.606 billion.
Similarly, from the EMTL pool of N47.870 billion, the Federal Government received N7.180 billion, states received N23.935 billion, and local governments received N16.755 billion.
The communiqué reported improvements in petroleum profit tax, hydrocarbon tax, companies’ income tax on upstream operations, capital gains tax, stamp duties, oil and gas royalty, import duty, excise duty and common external tariff levies.
It, however, noted declines in VAT, EMTL collections and fees.
FAAC said the slight drop in October’s allocation, despite remaining above N2 trillion for several months, reflected volatility in consumption-driven VAT and electronic transfer transactions.
A recent BudgIT report also showed that more than 30 states relied heavily on FAAC allocations, with 31 states depending on federal transfers for at least 80 per cent of their revenue, underscoring rising fiscal pressures across states.
The report raised concerns that the increasing reliance on FAAC could discourage states from boosting their internally generated revenue.
