Nigeria’s three tiers of presidency shared a cumulative N9.62 trillion from the Federation Account Allocation Committee (FAAC) over a three-month interval, masking August, September and October 2025 revenues.
That is in line with the information compiled by Nigeria’s statistics workplace, the Nationwide Bureau of Statistics (NBS).
The headline determine signifies a transparent downward development in month-to-month inflows, suggesting fiscal pressure throughout the interval, as within the first three months of 2025.
FAAC disbursements declined steadily from N3.64 trillion in September 2025 (August income) to N3.05 trillion in October (September income), earlier than falling additional to N2.93 trillion in November (October income).
The sample suggests fluctuating VAT efficiency and Nigeria’s continued publicity to risky oil and exchange-linked revenues.
What NBS information is saying
The info reveals that whole cumulative disbursements within the overview interval stood at N9.62 trillion. Right here’s the spotlight:
- FAAC distribution (Aug.–Oct. 2025 revenues): N9.62 trillion
Federal Authorities (FGN) – Cumulative share: N2.28 trillion
- August: N810.05 billion
- September: N711.31 billion
- October: N758.41 billion
36 States – Cumulative share: N2.13 trillion
- August: N709.83bn
- September: N727.17bn
- October: N689.12bn
774 Native Governments – Cumulative share: N1.56 trillion
- August: N522.23 billion
- September: N529.95 billion
- October: N505.80 billion
August Income: Sturdy Begin at N3.64 trillion
The three-month interval opened on a comparatively sturdy footing, with FAAC sharing N3.64 trillion from August 2025 income.
The Federal Authorities (FGN) emerged as the most important beneficiary, receiving N810.05 billion, adopted by the 36 states with N709.83 billion, whereas 774 native governments shared N522.23 billion.
VAT proved a key stabiliser, contributing N100.94 billion to the FGN, N336.45 billion to states, and N235.52 billion to LGs. Statutory allocations additionally dominated, with N684.46 billion going to the Federal Authorities alone.
Oil-producing states benefited considerably from derivation-related inflows, together with a 13% derivation fund of N183.01 billion, N100.00 billion in refunds on JVC/DECA withdrawals and N150.00 billion in NLNG-related derivation refunds.
Nonetheless, the month additionally noticed heavy deductions, together with over N124 billion paid to income assortment businesses and a big N851.17 billion switch to the Non-Oil Extra Account, underscoring structural pressures beneath the headline power.
September Income: Drop to N3.05 trillion as States overtake FG
By October 2025, FAAC disbursement had fallen to N3.05 trillion, reflecting weaker distributable income from September collections. In a notable shift, states overtook the Federal Authorities, receiving N727.17 billion, in contrast with N711.31 billion for the FGN. Native governments obtained N529.95 billion.
The change was pushed largely by stronger VAT receipts, which delivered N406.30 billion to states and N284.41 billion to LGs, reinforcing the rising significance of consumption taxes in subnational funds.
Regardless of this, total liquidity tightened. Important sums had been once more channeled to particular accounts and businesses, together with a N700.00 billion switch to the Non-Oil Extra Account and greater than N116 billion in mixed cost-of-collection funds to FIRS, NCS and NUPRC.
October Income: FAAC falls additional to N2.93 trillion
The downward development continued in November 2025, with FAAC sharing simply N2.93 trillion from October income — the bottom month-to-month allocation within the three-month stretch.
This time, the Federal Authorities rebounded, reclaiming the most important share at N758.41 billion, whereas states’ allocation fell to N689.12 billion, and LGs obtained N505.80 billion.
The important thing driver was a weakening of VAT, which dropped to N100.55 billion for the FGN, N335.15 billion for states and N234.61 billion for LGs. With VAT not offering the cushion seen in earlier months, subnational funds got here below renewed stress.
Oil-producing states nonetheless obtained N141.39 billion as 13% derivation, alongside further oil-linked refunds, however these had been inadequate to offset the broader decline in distributable income.
What you ought to know
Nigeria’s FAAC allocations slid over the August–October 2025 interval largely as a result of key income streams feeding the Federation Account weakened.
Oil-related receipts, particularly petroleum revenue tax, oil royalties and upstream taxes, contracted sharply because of decrease manufacturing volumes, under-performance of oil firms, and broader sector challenges. As in the primary three months of 2025, this considerably diminished oil tax contributions, that are central to FAAC disbursements.
On the similar time, Worth Added Tax (VAT) and different tax revenues additionally declined, decreasing the pool accessible for sharing. Latest FAAC experiences present VAT and statutory receipts declining month-on-month, reflecting shrinking financial exercise and the bounds of consumption taxes in a weakening economic system.
The mix of volatility in oil earnings and a drop in non-oil tax revenues underscores the fiscal pressures going through Nigeria’s finances and subnational liquidity, additional highlighting the necessity for income diversification and stronger home income mobilization.
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