FAAC Shares N1.92trn November Revenue to FG, State, LGs as VAT Collections Decline

The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.92 trillion as revenue for November to the federal government, states and local government councils.

The allocation was approved at FAAC’s December 2025 meeting held in Abuja and chaired by the Minister of State for Finance, Doris Uzoka-Anite, according to a report by the Nigerian Television Authority (NTA) on Monday.

A communiqué issued after the meeting showed that the distributable revenue comprised ₦1.40 trillion from statutory revenue, ₦485.83 billion from value-added tax (VAT), and ₦39.64 billion generated from the electronic money transfer levy (EMTL).

FAAC disclosed that total gross revenue available for the month stood at ₦2.34 trillion. From this amount, ₦84.25 billion was deducted as the cost of collection, while ₦330.62 billion was set aside for transfers, interventions, refunds and savings.

The committee noted a decline in statutory revenue, stating that gross statutory receipts for November amounted to ₦1.736 trillion, down by ₦427.97 billion from the ₦2.164 trillion recorded in October 2025.

VAT collections also dropped during the period. Gross VAT revenue for November stood at ₦563.04 billion, representing a decrease of ₦156.78 billion compared to the ₦719.82 billion generated in October. From the VAT proceeds, ₦22.52 billion was deducted for collection costs, while ₦54.68 billion was allocated for transfers, interventions and refunds.

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Of the ₦1.92 trillion shared, the federal government received ₦747.15 billion, state governments got ₦601.73 billion, while local government councils were allocated ₦445.26 billion. In addition, ₦134.35 billion, representing 13 per cent of mineral revenue, was distributed to eligible states as derivation revenue.

A further breakdown showed that from the ₦1.40 trillion statutory revenue, the federal government received ₦668.33 billion, while state governments were allocated ₦338.98 billion.

“The local government councils received N261.346 billion and the sum of N134.355 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue,” the communique said.

“From the N485.838 billion distributable value added tax (VAT) revenue, the federal government received N72.876 billion, the state governments received N242.919 billion and the local government councils received N170.043 billion.

“A total sum of N5.947 billion was received by the Federal Government from the N43,400 billion Electronic Money Transfer Levy (EMTL), the State Governments received N19.823 billion and the Local Government Councils received N13.876 billion.

“While N1.736 billion was allocated for cost of collection, while the sum of N2.018 billion was given to transfers, refunds and savings.”

FAAC noted that excise duty posted a modest increase during the period, while petroleum profit tax (PPT), hydrocarbon tax, company income tax (CIT) on upstream operations, CIT, capital gains tax (CGT), stamp duties (SDT), oil and gas royalties, import duty, CET levies, value-added tax (VAT) and the electronic money transfer levy (EMTL) all recorded significant declines.