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By Daniel Adaji
The three tiers of government have shared a total of N2.094 trillion from the Federation Account as revenue for October 2025.
This is according to figures released after the Federation Account Allocation Committee (FAAC) meeting held on Wednesday in Abuja.
The allocation covered statutory revenue, VAT proceeds and the Electronic Money Transfer Levy, forming part of the routine monthly disbursement overseen by the FAAC.
A communiqué issued after the meeting showed that the N2.094 trillion total distributable revenue consisted of N1.376 trillion statutory revenue, N670.303 billion from VAT, and N47.870 billion from the EMTL.
FAAC explained that N2.934 trillion gross revenue accrued in October. From that amount, N115.278 billion went to the cost of collection, while N724.603 billion was set aside for transfers, interventions, refunds and savings.
The communiqué noted that gross statutory revenue stood at N2.164 trillion, slightly higher than the N2.128 trillion recorded in September, an improvement of N36.832 billion. However, VAT collections dipped, with October returning N719.827 billion, compared to N872.630 billion in September, marking a decline of N152.803 billion.
Out of the distributable pool, the Federal Government received N758.405 billion, while states got N689.120 billion. Local government councils received N505.803 billion, and N141.359 billion, representing 13 per cent of mineral revenue, was paid to oil-producing states as derivation.
Breakdown of the statutory revenue showed the Federal Government receiving N650.680 billion, states N330.033 billion, and local governments N254.442 billion, with derivation funds maintained at N141.359 billion.
From the N670.303 billion VAT proceeds, the Federal Government took N100.545 billion, states received N335.152 billion, and local governments got N234.606 billion.
The EMTL distribution saw the Federal Government collect N7.180 billion, states N23.935 billion, and local governments N16.755 billion from the N47.870 billion generated in October.
The communiqué added that in the month under review, “Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT) and CIT on Upstream Activities, Companies Income Tax (CIT), CGT and SDT, Oil & Gas Royalty, Import Duty, Excise Duty and CET Levies increased significantly while Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Fees recorded decreases.”