New naira notes
Federal Government, states and local government councils shared a total of ₦1.928 trillion as federation account revenue for November 2025, following approval by the Federation Account Allocation Committee (FAAC).
The allocation was endorsed at the December 2025 FAAC meeting held in Abuja, which was chaired by the Minister of State for Finance, Doris Uzoka-Anite.
According to the FAAC communiqué, the distributable sum was drawn from a gross revenue of ₦2.343 trillion, after deductions of ₦84.251 billion for cost of collection and ₦330.625 billion for transfers, interventions and refunds.
From the approved amount, the Federal Government received ₦747.159 billion, while state governments got ₦601.731 billion. Local government councils shared ₦445.266 billion, and oil-producing states received ₦134.355 billion as 13 per cent derivation.
The ₦1.928 trillion shared consisted of ₦1.403 trillion in statutory revenue, ₦485.838 billion from Value Added Tax (VAT) and ₦39.646 billion from the Electronic Money Transfer Levy (EMTL).
A closer look at revenue performance showed a notable decline across major income lines. Gross statutory revenue fell to ₦1.736 trillion, down from ₦2.164 trillion recorded in October 2025. Gross VAT revenue also dropped to ₦563.042 billion, compared to ₦719.827 billion in the previous month.
While FAAC noted a moderate increase in excise duty, there were significant declines in Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT) from upstream activities, oil and gas royalties, import duty, CET levies, VAT, EMTL and other fees.
Overall, the November allocation represents a decline from the ₦2.094 trillion shared for October 2025, reflecting sustained pressure on government revenue amid weakening inflows.
