Federation Account Allocation Committee has distributed N2.09 trillion federal government, state governments, and local government councils for October.
Gatekeepers News reports that the amount released is slightly lower than the N2.10 trillion shared in September, reflecting a decline of N9 billion.
According to the communique issued by Bawa Mokwa, director of press and public relations at the office of the accountant-general of the federation, the total distributable amount included N1.37 trillion in statutory revenue, N670.30 billion from value-added tax, and N47.87 billion realized from the electronic money transfer levy.
FAAC noted that gross revenue for October reached N2.93 trillion. It explained that N115.27 billion was deducted as the cost of collection, while N724.60 billion was used for transfers, interventions, refunds, and savings.
The communique stated, “Gross statutory revenue of N2.164 trillion was received for the month of October. This was higher than the sum of N2.128 trillion received in September 2025 by N36.832 billion.”
“Gross revenue of N719.827 billion was available from the VAT. This is lower than the N872.630 billion available in September by N152.803 billion.”
From the N2.09 trillion allocated, the federal government received N758.40 billion, and state governments got N689.12 billion. Local councils were assigned N505.80 billion, while N141.35 billion, representing 13 percent of mineral revenue, was paid to states entitled to derivation funds.
FAAC further explained that from the N1.376 trillion statutory revenue, Federal Government received N650.680 billion and state governments received N330.033 billion.
It added, “The LGCs received N254.442 billion and the sum of N141.359 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.”
Out of the N670.30 billion generated from VAT, the federal government collected N100.54 billion, states received N335.15 billion, and local government councils obtained N234.60 billion.
The communique also stated that from the N47.87 billion realized through the electronic money transfer levy, the federal government received N7.18 billion, while states got N23.93 billion and LGAs received N16.75 billion.
