The Federation Account Allocation Committee (FAAC) has announced a sharp decline in gross statutory revenue for November 2025, which fell by ₦427.969 billion to ₦1.736 trillion, compared with the ₦2.164 trillion recorded in October 2025.
In a communiqué issued at the end of its December 2025 meeting held on Monday in Abuja, FAAC disclosed that a total sum of ₦1.928 trillion, representing the November 2025 Federation Account Revenue, was shared among the Federal Government, state governments and local government councils.
According to the communiqué, the ₦1.928 trillion total distributable revenue comprised ₦1.403 trillion as distributable statutory revenue, ₦485.838 billion from distributable Value Added Tax (VAT), and ₦39.646 billion generated from the Electronic Money Transfer Levy (EMTL).
FAAC further revealed that total gross revenue of ₦2.343 trillion was available in November 2025. From this amount, ₦84.251 billion was deducted as cost of collection, while ₦330.625 billion was applied to transfers, interventions, refunds and savings.
The committee also noted a significant drop in VAT receipts. Gross VAT revenue stood at ₦563.042 billion in November 2025, representing a decline of ₦156.785 billion from the ₦719.827 billion recorded in October 2025.
From the ₦1.928 trillion total distributable revenue, the Federal Government received ₦747.159 billion, state governments got ₦601.731 billion, while local government councils shared ₦445.266 billion. In addition, ₦134.355 billion, representing 13 per cent of mineral revenue, was distributed to the benefiting states as derivation revenue.
Breaking down the ₦1.403 trillion distributable statutory revenue, the communiqué stated that the Federal Government received ₦668.336 billion, state governments received ₦338.989 billion, while local government councils got ₦261.346 billion. The sum of ₦134.355 billion was again shared to oil-producing states as derivation revenue.
From the ₦485.838 billion distributable VAT revenue, the Federal Government received ₦72.876 billion, state governments shared ₦242.919 billion, while local government councils received ₦170.043 billion.
Similarly, out of the ₦39.646 billion generated from the Electronic Money Transfer Levy, the Federal Government received ₦5.947 billion, state governments got ₦19.823 billion, while local government councils received ₦13.876 billion.
A statement signed by the Director of Press and Public Relations, Mr. Bawa Mokwa, explained that although excise duty recorded a moderate increase in November 2025, key revenue lines such as Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), oil and gas royalties, import duty, CET levies, VAT, EMTL and other fees witnessed substantial declines.
