•Naira notes
A total sum of ₦1.928 trillion, being November 2025 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.
According to a statement by the Federation Account Allocation Committee (FAAC), the revenue was shared at the December 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The ₦1.928 trillion total distributable revenue comprised distributable statutory revenue of ₦1.403 trillion, distributable Value Added Tax (VAT) revenue of ₦485.838 billion, Electronic Money Transfer Levy (EMTL) revenue of ₦39.646 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of ₦2.343 trillion was available in the month of November 2025. Total deduction for cost of collection was ₦84.251 billion while total transfers, interventions, refunds and savings was ₦330.625 billion.
According to the communiqué, gross statutory revenue of ₦1.736 trillion was received for the month of November 2025. This was lower than the sum of ₦2.164 trillion received in the month of October 2025 by ₦427.969 billion.
Gross revenue of N563. 042 billion was available from the Value Added Tax (VAT) in November 2025. This was lower than the N719.827 billion available in the month of October 2025 by N156.785 billion.
The communiqué stated that from the N1.928 trillion total distributable revenue, the Federal Government received a total sum of N747.159 billion and the State Governments received a total sum of N601.731 billion.
The Local government Council received N445.266 billion, while the sum of N134.355 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.
On the N1.403 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N668.336 billion and the State Governments received N338.989 billion.
The Local Government Councils received N261.346 billion and the sum of N134.355 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
From the N485.838 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N72.876 billion, the State Governments received N242.919 billion and the Local Government Councils received N170.043 billion.
A total sum of N5.947 billion was received by the Federal Government from the N39.646 billion Electronic Money Transfer Levy (EMTL), the State Governments received N19.823 billion and the Local Government Councils received N13.876 billion.
In November 2025, Excise Duty increased moderately while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), CIT on Upstream Activities, Companies Income Tax (CIT), CGT and SDT, Oil & Gas Royalties, Import Duty, CET Levies, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Fees recorded substantial decreases.
