The Federation Account Allocation Committee (FAAC) has distributed a total of N1.928 trillion from November federation revenue among the federal, state, and local governments.
The allocation was approved at the December FAAC meeting held in Abuja on Monday, according to a communiqué issued by the Office of the Accountant-General of the Federation (OAGF).
The distributable revenue comprised:
– N1.403 trillion from statutory revenue
– N485.838 billion from Value Added Tax (VAT)
– N39.646 billion from Electronic Money Transfer Levy (EMTL)
Gross revenue for November stood at N2.343 trillion, from which N84.251 billion was deducted as cost of collection, and N330.625 billion was set aside for transfers, interventions, refunds, and savings.
Breakdown of Allocation:
– Federal Government: N747.159 billion
– State Governments: N601.731 billion
-Local Government Councils: N445.266 billion
– Derivation Revenue (13% of mineral revenue) to oil-producing states: N134.355 billion
Statutory Revenue Distribution (N1.403 trillion):
– Federal Government: N668.336 billion
– State Governments: N338.989 billion
– Local Governments: N261.346 billion
– Derivation: N134.355 billion
VAT Revenue Distribution (N485.838 billion):
– Federal Government: N72.876 billion
– State Governments: N242.919 billion
– Local Governments: N170.043 billion
EMTL Distribution (N39.646 billion):
– Federal Government: N5.947 billion
– State Governments: N19.823 billion
– Local Governments: N13.876 billion
The communiqué noted a moderate increase in Excise Duty, while significant decreases were recorded in Petroleum Profit Tax, Oil and Gas Royalties, Import Duty, VAT, and other revenue streams compared to October 2025.
