The Federation Account Allocation Committee (FAAC) has seen its generated revenue depreciated by N744 billion between the months of August and October, 2025.

According to communiques from the Office of the Accountant General of the Federation (OAGF) released by FAAC within the said period indicated that while N2.838 trillion was generated as gross distributable revenue, N2.103 trillion in September, that of the month of October 2025 dips to N2.094 trillion.

The released statements when compared also show that between the revenue for the month of August and September, a sharp decline of N735 billion was recorded while only a marginal N9 billion was experienced between the month of September and October.

While the state Governors are enjoying huge FAAC allocations with so little to show for it in their states, debt servicing has significantly too, raising huge concerns of borrowing by previous administrations.

Another close look at another component of federation Allocation shows that even revenues accruing to generating agencies like the Nigeria Customs, Federal Revenue Internal Revenue, FIRS etc continue to nosedive as only N115.278 billion was deducted credited to them in October while N116.149 was for September meanwhile, the sum of N124.839 billion was deducted and credited to revenue generating agencies for the cost of collection in August.

Furthermore, the distributable Value Added Tax (VAT) revenue of N812.593 billion was realized in the month of September while October saw N670.303 billion as VAT revenue as against a the Gross Revenue available from the Value Added Tax (VAT) for the month of August 2025, was N722.619 Billion.

From the total transfers, total transfers, interventions, refunds and savings gulped N724.603 billion in October. In September, N835.005 billion was used by the government to settle transfers, Interventions and refunds while N1.285 trillion was allocated for Transfers Intervention and Refunds in August which remains the highest under the three-month period or review.

This shows that the more revenue the federation account generated, the more it spends on transfers Interventions and refunds.

In October 2025, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT) and CIT on Upstream Activities, Companies Income Tax (CIT), CGT and SDT, Oil & Gas Royalty, Import Duty, Excise Duty and CET Levies increased significantly while Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Fees recorded decreases.