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Black Thursday

Rostrum The ancient narrow pathway had become so bad that they could not find their way to their destination as the three moved in a grey Honda Sport Utility Vehicle (SUV) being piloted by Dayo who was very mindful of the steering. It was on a Thursday. The 35-year-old Misters Dayo, Emeka and Okon were old time friends who reunited just a few days ago at Nsukka in Enugu State having lost contacts about eight years back, or thereabouts, after their graduation from one of the reputable higher citadels of learning in Nigeria situated in the Eastern part of the country, precisely University of Nigeria Nsukka popularly known by its acronym ‘U.N.N’. What occasioned the long-awaited reunion was the convention of their alma-mater’s alumni body themed ‘The homecoming of UNN Alumni’, which usually held once in a blue moon. Though they never studied in the same department, they were conspicuously best of friends during their school days that people within bega...

FAAC distributes N2.094trn Revenue for October 2025

Frank Musa
The Federal Government, states, and Local Government Councils in Nigeria have shared among them a total of N2.094 trillion from the Federation Account for October 2025 as was announced by the Office of the Accountant General of the Federation (OAGF) on November 19, 2025.

The revenue distribution followed the November 2025 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja, the Nigeria’s capital Territory.

The total distributable revenue comprised N1.376 trillion in statutory revenue, N670.303 billion from Value Added Tax (VAT), and N47.870 billion from the Electronic Money Transfer Levy (EMTL).

According to the FAAC communiqué, the Federal Government received N758.405 billion, states N689.120 billion, and Local Government Councils N505.803 billion.

Additionally, N141.359 billion was shared among mineral-producing states as derivation revenue.

Breaking down the figures, the Federal Government received N650.680 billion from statutory revenue, N100.545 billion from VAT, and N7.180 billion from EMTL.

States received N330.033 billion, N335.152 billion, and N23.935 billion from the respective sources, while Local Governments got N254.442 billion, N234.606 billion, and N16.755 billion.

The communiqué noted that gross statutory revenue for October 2025 rose to N2.164 trillion, up by N36.832 billion compared to September, while VAT revenue declined to N719.827 billion, down by N152.803 billion from the previous month.

Revenue increases were driven by Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax on upstream activities, Capital Gains Tax, Stamp Duties, Oil & Gas royalties, Import and Excise duties, and CET levies, while VAT, EMTL, and fees saw decreases.

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