The Federation Account Allocation Committee (FAAC) has shared a total of N2.094 trillion among the federal, state, and local governments as revenue for October 2025.
The announcement was made in a statement released by Bawa Mokwa, Director of Press and Public Relations, after FAAC’s November meeting in Abuja.
According to the statement, the total distributable amount came from statutory revenue, Value Added Tax (VAT), and the Electronic Money Transfer Levy.
FAAC explained that the gross revenue for October stood at N2.934 trillion. From this figure, N115.278 billion was deducted as the cost of collection, while N724.603 billion was set aside for transfers, interventions, refunds, and savings.
The committee noted that statutory revenue rose slightly in October, reaching N2.164 trillion, compared to the N2.128 trillion recorded in September.
VAT revenue, however, dropped by N152.8 billion from N872.630 billion in September to N719.827 billion in October.
Out of the N2.094 trillion shared, the Federal Government received N758.405 billion, states got N689.120 billion, and local government councils received N505.803 billion.
States that benefit from the 13 percent derivation formula received N141.359 billion .
The communiqué added that in October 2025, revenues from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), Oil and Gas Royalties, Import Duty, Excise Duty, and CET Levies all recorded significant increases. However, receipts from VAT, EMTL, and Fees declined.