FG, States, LGs Share N2.09trn October Revenue: A Closer Look at FAAC Distribution
The Federation Account Allocation Committee (FAAC) has disbursed a total of N2.09 trillion to the Federal Government (FG), State Governments, and Local Government Councils (LGCs) as statutory allocation, Value Added Tax (VAT), and Electronic Money Transfer Levy (EMTL) shared for the month of October.
This massive figure highlights the continued robust, albeit variable, performance of the nation’s revenue streams, primarily driven by receipts from oil sales and corporate taxes.
The Trillion Naira Breakdown
The distribution across the three tiers of government is as follows:
| Tier of Government | Share Amount (Approx.) | Basis |
|---|---|---|
| Federal Government (FG) | N758.2 billion | Statutory Share, VAT, and EMTL |
| State Governments | N677.3 billion | Statutory Share, VAT, and EMTL |
| Local Government Councils (LGCs) | N497.1 billion | Statutory Share, VAT, and EMTL |
| Total | N2.09 Trillion |
The remaining funds are typically allocated to revenue collection costs and constitutional deductions, including 13% Derivation for oil-producing states.
The significant disbursement, particularly the portion going to the states and local governments, provides a critical financial injection intended for recurrent expenditure and capital projects as the government moves toward the end of the fiscal year. Stakeholders are urging the sub-national governments to ensure these funds are deployed efficiently for maximum public impact.
