The Federal Government, States, and Local Government Councils have shared one trillion, nine hundred and twenty-eight billion naira as revenue for November twenty twenty-five, representing a drop of one hundred and sixty-six billion naira compared to the two trillion, ninety-four billion naira shared in October.
The revenue was shared at the December Federation Account Allocation Committee meeting, held in Abuja.
In a communiqué issued by FAAC shows that the decline followed a reduction in both statutory revenue and Value Added Tax earnings during the month under review.
From the one point nine two eight trillion naira shared in November, the Federal Government received seven hundred and forty-seven billion naira, the State Governments received six hundred and one billion naira, while the Local Government Councils received four hundred and forty-five billion naira.
Oil-producing states also received one hundred and thirty-four billion naira, representing thirteen percent derivation revenue.
FAAC disclosed that total gross revenue available in November stood at two point three four three trillion naira, after deductions for cost of collection, as well as transfers, interventions, refunds, and savings.
The committee noted that while excise duty recorded a slight increase, revenues from oil and gas, company income tax, import duties, VAT, and electronic money transfer levy all recorded significant declines.
The report was released by the Office of the Accountant-General of the Federation.
(Editor: Roluke Ogundele)
