The total allocation from the Federation Account to the federal, state, and local governments increased significantly to N33.27 trillion in the first eleven months (January–November) of 2025, representing a 30 percent increase compared with N25.46 trillion disbursed during the same period in 2024.
According to the monthly Federation Accounts Allocation Committee (FAAC) disbursement report published by the National Bureau of Statistics (NBS), the total disbursement during the period was also higher than the N28.6 trillion disbursed in the 2024 fiscal year.
BusinessDay’s analysis of the monthly report for 2025, showed that FAAC disbursed N2.31 trillion to the three tiers of government in January, N2.64 trillion in February, N2.34 trillion in March, N2.41 trillion in April and N2.85 trillion in May.
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The Committee also disbursed 2.94 trillion in June, N4.33 trillion in July, N3.83 trillion in August, N3.64 trillion in September, N3.05 trillion in October and N2.93 trillion in November 2025.
Meanwhile, BusinessDay’s check on the FAAC monthly disbursement report for 2024, as published by NBS, showed that a total of N28.6 trillion was disbursed in 2024, with N1.67 trillion disbursed in January, N2.07 trillion in February, N2.33 trillion in March, N1.87 trillion in April, N2.32 trillion in May and N2.32 trillion in June.
N2.68 trillion was disbursed in July, N2.61 trillion in August, N2.27 trillion in September, N2.66 trillion in October, N2.66 trillion in November and N3.14 trillion in December 2024.
The total amount (N33.27 trillion) disbursed from January to November 2025 comprised: N23.87 trillion from statutory account, N7.77 trillion from Value Added Tax (VAT), N392.78 billion from Electronic Money Transfer Levy (EMTL), exchange gain.
Of the total amount, the federal government received the sum N6.865 trillion, state governments received N6.713 trillion while local government allocations amounted to N4.905 trillion.
A breakdown of the report indicates that the federal government received N451.19 billion in January, N552.59 billion in February, N569.66 billion in March, N528.70 billion in April, N565.31 billion in May and N538 billion in June.
The amount continued on the increase in the second half of the year, as the federal government received N645.38 billion in July, N735.08 billion in August, N810.05 billion in September, N711.31 billion and N758.41 billion in October and November respectively.
The amount disbursed to state governments in the period was NN498.49 billion in January, N593.70 billion in February, N562.19 billion in March, N530.45 billion in April, N556.74 billion in May, N577.84 billion in June.
States received N607.41billion in July, N660.41 billion in August, N709.83 billion in September, N727.17 billion in October and N689.12 billion in November 2025.
Similarly, a breakdown of the total amount received by the local governments showed that N361.75 billion was received in January, N431.48 billion was received in February, N410.50 billion was received in March, N397 billion was received in April, N406.63 billion was received in May and N419. 97 billion in June.
The local government’s allocation increased to N444.85 trillion in July, N485.03 billion in August, N522.23 billion in September, N529.95 billion and N505.80 billion in October and November 2025.
Revenue generating agencies comprising Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received a total of N332.86 billion, N618.35 billion and N295.61 billion respectively from January to November 2025.
The government has continued to report increased revenues since the introduction of several economic reforms by President Bola Tinubu-led administration.
President Tinubu upon assumption of office in 2023, implemented the petrol subsidy removal and exchange rate unification. This move ended petrol subsidies and merged exchange rate windows to boost government revenue and attract investment.
