FAAC shares N1.93 trillion revenue as statutory, VAT receipts decline

The total distributable revenue comprised N1.403 trillion in statutory revenue, N485.838 billion from Value Added Tax (VAT) and N39.646 billion from the Electronic Money Transfer Levy (EMTL).

The federal, state and local governments shared a total of N1.928 trillion as Federation Account revenue for November 2025, according to the Office of the Accountant General of the Federation.

The allocation was approved at the December 2025 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja.

This was disclosed in a press statement on Monday by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa.

The total distributable revenue comprised N1.403 trillion in statutory revenue, N485.838 billion from Value Added Tax (VAT) and N39.646 billion from the Electronic Money Transfer Levy (EMTL).

A communiqué issued after the meeting showed that gross revenue of N2.343 trillion was available in November. From this amount, N84.251 billion was deducted as cost of collection, while N330.625 billion went to transfers, interventions, refunds and savings.

FAAC said gross statutory revenue fell to N1.736 trillion in November, down by N427.969 billion from the N2.164 trillion recorded in October 2025.

Gross VAT revenue also declined, dropping to N563.042 billion in November from N719.827 billion in October, representing a decrease of N156.785 billion.

From the N1.928 trillion shared, the federal government received N747.159 billion, state governments received N601.731 billion and local government councils received N445.266 billion. In addition, N134.355 billion, representing 13 per cent of mineral revenue, was shared among oil-producing states as derivation revenue.

A breakdown of the N1.403 trillion statutory allocation showed that the federal government received N668.336 billion, states received N338.989 billion and local government councils received N261.346 billion, while N134.355 billion was paid as derivation revenue.

From the N485.838 billion VAT pool, the federal government received N72.876 billion, states received N242.919 billion and local government councils received N170.043 billion.

Revenue from the N39.646 billion EMTL was shared with the federal government receiving N5.947 billion, states N19.823 billion and local government councils N13.876 billion.

FAAC noted that excise duty increased moderately in November, while major revenue lines, including Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, oil and gas royalties, import duty, CET levies, VAT, EMTL and fees, recorded substantial declines.