FAAC Distributes N1.92 Trillion to FG, States, LGs as VAT Falls
The Federation Account Allocation Committee (FAAC) has disbursed N1.92 trillion in revenue for November to the federal government, states, and local councils. The allocation, approved at FAAC’s December 2025 meeting in Abuja chaired by Finance Minister of State Doris Uzoka-Anite, comprised N1.40 trillion from statutory revenue, N485.83 billion from VAT, and N39.64 billion from the Electronic Money Transfer Levy (EMTL).
Total gross revenue for the month was N2.34 trillion, with N84.25 billion deducted as collection costs and N330.62 billion set aside for transfers, interventions, refunds, and savings. FAAC noted a decline in statutory revenue, which fell to N1.736 trillion in November from N2.164 trillion in October, while VAT collections dropped to N563.04 billion from N719.82 billion in October.
Of the N1.92 trillion shared, the federal government received N747.15 billion, states N601.73 billion, and local governments N445.26 billion, with an additional N134.35 billion (13% of mineral revenue) distributed as derivation revenue. Breakdown shows the federal government received N668.33 billion from statutory revenue, N72.88 billion from VAT, and N5.95 billion from EMTL, while states and local councils received N338.98 billion and N261.35 billion (statutory), N242.92 billion and N170.04 billion (VAT), and N19.82 billion and N13.88 billion (EMTL), respectively.
FAAC also reported modest growth in excise duties but declines in petroleum profit tax, hydrocarbon tax, company income tax (upstream and overall), capital gains tax, stamp duties, oil and gas royalties, import duties, CET levies, VAT, and EMTL.
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