FAAC
Nov. 19, 2015
The Federation Account Allocation Committee (FAAC), has shared a total sum of N2.094 trillion revenue for the month of October among the Federal Government, states and the Local Government Councils (LGCs).
The revenue was shared at the November Federation Account Allocation Committee (FAAC) meeting on Wednesday in Abuja.
This is according to a communiqué issued at the end of the meeting, which was made available to newsmen by Bawa Mokwa, the Director, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF)
The communiqué said that the N2.094 trillion total distributable revenue comprised distributable statutory revenue of N1.376 trillion, Value Added Tax (VAT) revenue of N670.303 billion, and Electronic Money Transfer Levy (EMTL) revenue of N47.870 billion.
The communiqué said that total gross revenue of N2.934 trillion was available in October.
It said that total deduction for cost of collection was N115.278 billion, while total transfers, interventions, refunds and savings was N724.603 billion.
“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,” it said.
The communiqué said that from the N2.094 trillion total distributable revenue, the Federal Government received a total sum of N758.405 billion and the state governments received N689.120 billion.
It said that the LGCs received N505.803 billion, while the sum of N141.359 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.
“On the N1.376 trillion distributable statutory revenue, the Federal Government received N650.680 billion and the state governments received N330.033 billion.
“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,” it said.
It said that a total sum of N7.180 billion was received by the Federal Government from the N47.870 billion EMTL, the state governments received N23.935 billion and the LGCs received N16.755 billion.
