Naira notes
Federation Account Allocation Committee (FAAC) has disbursed a total of ₦2.103 trillion in revenue for September 2025, distributing the funds among the Federal Government, State Governments, and Local Government Councils.
The allocation was finalized during FAAC’s October 2025 meeting held in Abuja, where members confirmed that the distributable funds comprised the following:
₦1.239 trillion from statutory revenues,
₦812.593 billion from Value Added Tax (VAT), and
₦51.684 billion from the Electronic Money Transfer Levy (EMTL).
A communiqué issued at the close of the meeting revealed that gross revenue for September stood at ₦3.054 trillion, from which ₦116.149 billion was deducted for the cost of collection, and ₦835.005 billion set aside for transfers, interventions, refunds, and savings.
According to FAAC, the gross statutory revenue recorded in September was ₦2.128 trillion, a significant drop of ₦710.134 billion compared to August’s ₦2.838 trillion.
Conversely, VAT collections rose sharply to ₦872.630 billion in September, marking an increase of ₦150.011 billion over the ₦722.619 billion reported in August.
*Revenue Breakdown by Tiers of Government:*
Out of the ₦2.103 trillion total shared:
The Federal Government received ₦711.314 billion,
State Governments got ₦727.170 billion,
Local Government Councils were allocated ₦529.954 billion,
An additional ₦134.956 billion (representing 13% derivation from mineral revenue) went to oil-producing states.
Further disaggregation of the funds reveals that from the ₦1.239 trillion statutory revenue:
FG took ₦581.672 billion,
States received ₦295.032 billion,
LGs got ₦227.457 billion,
While ₦134.956 billion was paid out as derivation revenue.
From the ₦812.593 billion VAT pool:
FG claimed ₦121.889 billion,
States collected ₦406.297 billion,
LGs received ₦284.408 billion.
As for the ₦51.684 billion EMTL, the breakdown was as follows:
FG: ₦7.753 billion,
States: ₦25.842 billion,
LGs: ₦18.089 billion.
*Revenue trends:*
The communiqué also noted notable shifts in revenue sources for the month. Import Duty, VAT, and EMTL saw significant increases, while Companies Income Tax (CIT) and Common External Tariff (CET) Levies experienced substantial declines. Petroleum Profit Tax (PPT) rose slightly, whereas Oil & Gas Royalties and Excise Duty saw minor reductions.
> “These figures reflect changing dynamics in the nation’s revenue streams and underscore the importance of diversifying income sources,” FAAC stated.
