The Federation Account Allocation Committee (FAAC) has shared N2.103 trillion, September 2025 revenue among the Federal, States and local government councils in the country.
The revenue was disbursed doing the October 2025 FAAC meeting held in Abuja on Friday.
The N2.103 trillion total distributable revenue consists of N1.239 trillion in distributable statutory revenue, N812.593 billion in distributable Value Added Tax (VAT) revenue, and N51.684 billion from the Electronic Money Transfer Levy (EMTL).
According to a communiqué issued at the end of FAAC meeting, a total gross revenue of N3.054 trillion was available in September 2025.
Deductions for the cost of collection amounted to N116.149 billion, while total transfers, interventions, refunds, and savings reached N835.005 billion.
The communiqué noted that gross statutory revenue of N2.128 trillion was collected in September 2025, which is N710.134 billion lower than the N2.838 trillion received in August 2025.
For Value Added Tax (VAT), gross revenue of N872.630 billion was recorded in September 2025, representing an increase of N150.011 billion compared to the N722.619 billion collected in August 2025.
From the N2.103 trillion total distributable revenue, the Federal Government received N711.314 billion, while the State Governments received N727.170 billion.
The Local Government Councils were allocated N529.954 billion, and N134.956 billion, equivalent to 13% of mineral revenue, was distributed to the benefiting states as derivation revenue.
Breaking down the N1.239 trillion distributable statutory revenue: the Federal Government received N581.672 billion, the State Governments received N295.032 billion, and the Local Government Councils received N227.457 billion.
Additionally, N134.956 billion (13% of mineral revenue) was shared with the benefiting States as derivation revenue.
From the N812.593 billion in distributable Value Added Tax (VAT) revenue, the Federal Government received N121.889 billion, the State Governments received N406.297 billion, and the Local Government Councils received N284.408 billion.
The Federal Government received N7.753 billion from the N51.684 billion in Electronic Money Transfer Levy (EMTL), while the State Governments received N25.842 billion and the Local Government Councils received N18.089 billion.
In September 2025, income from Import Duty, Value Added Tax (VAT), and the Electronic Money Transfer Levy (EMTL) saw significant increases.
Conversely, Companies Income Tax (CIT) and CET Levies experienced considerable decreases.
Petroleum Profit Tax (PPT) saw a marginal increase, while Oil and Gas Royalty and Excise Duty recorded slight decreases.
(vitalnewsngr.com)
