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Oct
FEDERATION ACCOUNT ALLOCATION COMMITTEE DISTRIBUTES N2.103 TRILLION FOR SEPTEMBER 2025
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CapitalTimesNews / 4 months
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The Federation Account Allocation Committee (FAAC) has disbursed a total of N2.103 trillion to the federal, state, and local governments as revenue for the month of September 2025. The allocation was finalized during the FAAC meeting held in Abuja in October 2025. A statement from the Office of the Accountant General of the Federation (OAGF) revealed that the distributable revenue was sourced from three main streams. It included N1.239 trillion from statutory revenue, N812.593 billion from Value Added Tax (VAT), and N51.684 billion from the electronic money transfer levy. The gross revenue available for the month of September was reported at N3.054 trillion. From this total, the committee deducted N116.149 billion for the cost of revenue collection and set aside a further N835.005 billion for various transfers, interventions, refunds, and savings. Bawa Mokwa, the Director of Information at the OAGF, provided context on the revenue performance. He stated, “Gross statutory revenue for September was N2.128 trillion, which is N710.134 billion lower than the N2.838 trillion recorded in August.” However, he highlighted a positive trend in VAT collections, noting that “VAT revenue increased from N722.619 billion in August to N872.630 billion in September.” From the total distributable pool of N2.103 trillion, the federal government received a total of N711.314 billion. The state governments collectively were allocated N727.170 billion, while the 774 local government areas shared N529.954 billion. Additionally, mineral-producing states received an extra N134.956 billion as 13 per cent derivation revenue. A detailed breakdown of the N1.239 trillion statutory revenue allocation shows the federal government received N581.672 billion, state governments got N295.032 billion, and local governments were allocated N227.457 billion. The sum of N134.956 billion was again confirmed for oil and gas-producing states as derivation. From the VAT revenue of N812.593 billion, the federal government received N121.889 billion, the states received N406.297 billion, and the local government councils were allocated N284.408 billion. The electronic money transfer levy of N51.684 billion was shared with the federal government getting N7.753 billion, state governments receiving N25.842 billion, and local governments getting N18.089 billion.
