FAAC: FG, States, LGs Share N2.1trn For September — VAT Up By N150bn

The Federation Account Allocation Committee (FAAC) has disbursed N2.10 trillion to the federal, state and local governments as allocation for September 2025.

A communiqué issued after FAAC’s October meeting in Abuja, chaired by the Accountant-General of the Federation, Shamsudeen Ogunjimi, indicated that the N2.10 trillion shared was drawn from a gross revenue of N3.05 trillion.

Director of Information at the Ministry of Finance, Mohammed Manga, said the revenue pool comprised statutory revenue, Value Added Tax (VAT) and the Electronic Money Transfer Levy (EMTL).

Under the distribution, the federal government received N711.31 billion, states N727.17 billion, local government councils N529.95 billion, while oil-producing states received N134.95 billion as 13 per cent derivation.

He added that N116.14 billion was set aside for cost of revenue collection and N835 billion for transfers, interventions and refunds.

VAT Rises To N872.63bn — Up By N150bn

According to the communiqué, gross VAT revenue for September stood at N872.63 billion, reflecting an increase of N150.01 billion over the N722.61 billion recorded in August.

After deductions for collection cost (N34.91bn) and intervention/refund (N25.13bn), the balance of N812.59bn was shared as follows:

FG: N121.889bn

States: N406.297bn

LGs: N284.408bn

Statutory Revenue Drops By N710bn

Statutory revenue for September was N2.128 trillion, lower than August’s N2.838 trillion by N710.134 billion.

From the balance shared after deductions, the federal government received N581.67bn, states N295.03bn, LGs N227.46bn, and oil-producing states N134.96bn as derivation.

The EMTL yielded N53.84bn, of which the federal government got N7.75bn, states N25.84bn, and LGs N18.09bn, while N2.15bn went for collection cost.

FAAC noted increases in VAT, import duty and EMTL, while CET levy and Company Income Tax (CIT) declined. Petroleum Profit Tax rose marginally, whereas oil & gas royalties and excise duty dipped.