The Federation Account Allocation Committee (FAAC) has distributed a total of N2.094 trillion to the Federal Government, state governments, and local councils as revenue for October 2025.
This was disclosed in a statement issued on Wednesday by the Director of Press and Public Relations, Bawa Mokwa, following FAAC’s November 2025 meeting in Abuja.
According to the statement, the N2.094 trillion distributable revenue comprised:
A communiqué issued after the meeting showed that N2.934 trillion was the gross revenue for October. From this amount, N115.278 billion was deducted as the cost of collection, while N724.603 billion went to transfers, interventions, refunds, and savings.
The communiqué noted that gross statutory revenue for October stood at N2.164 trillion, an increase of N36.832 billion over the N2.128 trillion recorded in September. VAT revenue for October was N719.827 billion, a decrease of N152.803 billion from the N872.630 billion recorded in September.
Breakdown of the N2.094 trillion shared
Breakdown by revenue components
Statutory Revenue – N1.376 trillion
VAT Revenue – N670.303 billion
EMTL – N47.870 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.
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