FAAC Sh*ck: Federation Revenue Slides As Agencies Remit ₦2.34 Trillion In November

Nigeria’s Federation Account recorded inflows of ₦2.34 trillion in November 2025, marking a noticeable decline from the previous month, according to data from the Office of the Accountant-General of the Federation.....KINDLY READ THE FULL STORY HERE▶

Figures presented at the Federation Account Allocation Committee (FAAC) meeting in December showed that revenue fell by ₦591.22 billion from the ₦2.93 trillion generated in October. The reduction was attributed to weaker returns from several key revenue streams.

Contributions from the Nigerian Upstream Petroleum Regulatory Commission dropped to ₦660.04 billion in November, compared with ₦873.1 billion a month earlier. Non-oil revenue collected by the Federal Inland Revenue Service also declined sharply, falling to ₦337.22 billion from ₦591.15 billion.

Similarly, receipts from the Nigeria Customs Service decreased to ₦287.17 billion in November, down from ₦370.28 billion in October. Value-added tax inflows fell to ₦563.04 billion from ₦719.82 billion, while proceeds from the electronic money transfer levy slipped to ₦43.4 billion from ₦49.86 billion.

In contrast, remittances from the Nigerian National Petroleum Company Limited rose to ₦44.92 billion in November, up from ₦14.72 billion in October. Oil-related revenue collected by the FIRS also improved, increasing to ₦407.57 billion from ₦315.64 billion.

From the total inflows, ₦49.76 billion was paid into the Midstream and Downstream Gas Infrastructure Fund as gas-flare penalties. After this adjustment, net revenue available to the Federation Account stood at ₦2.29 trillion, down from ₦2.87 trillion in October, representing a decline of ₦581.56 billion.

Overall deductions from the account eased in November, falling to ₦365.1 billion from ₦780.45 billion in the previous month. Savings also declined to ₦200 billion from ₦300 billion, while the cost of revenue collection by agencies such as the FIRS, Customs and NUPRC reduced to ₦84.25 billion from ₦115.27 billion.

Transfers to the North-East Development Commission dropped to ₦16.21 billion from ₦20.73 billion, while refunds for 13 per cent derivation covering subsidy, priority projects and the Police Trust Fund remained unchanged at ₦18.16 billion.

Deductions tied to 13 per cent derivation for NNPC management fees and frontier exploration fell significantly to ₦2.87 billion from ₦21.47 billion. However, allocations of non-oil revenue to the Revenue Mobilisation Allocation and Fiscal Commission increased to ₦6.15 billion from ₦4.8 billion, alongside a separate deduction of ₦37.45 billion for outstanding arrears.

After all deductions, a total of ₦1.92 trillion was shared among the federal, state and local governments in November 2025, lower than the ₦2.09 trillion distributed in October.