NEWS Beep: FAAC Distributes Total of N2.094 Trillion in Revenue for October 2025 to LGCs, FG, State Govts….details

The Federation Account Allocation Committee (FAAC) has distributed a total of N2.094 trillion in revenue for October 2025 among the Federal Government, state governments, and Local Government Councils (LGCs).

The allocation was finalized during the FAAC meeting that took place on Wednesday in Abuja. As per a communiqué released at the conclusion of the meeting and shared with journalists by Bawa Mokwa, the Director of Press and Public Relations from the Office of the Accountant-General of the Federation (OAGF), the total revenue available for distribution amounted to N2.094 trillion.

This sum included N1.376 trillion from statutory revenue, N670.303 billion from Value Added Tax (VAT), and N47.870 billion from Electronic Money.

The statement noted that a total gross revenue of N2.934 trillion was available in October.

The report stated that the deductions for collection costs amounted to N115.278 billion, while the combined total for transfers, interventions, refunds, and savings reached N724.603 billion.

….stay tuned for more!