Oil, tax and customs receipts weaken, reducing funds available for sharing to N1.92trn
Federal Government agencies remitted a total of N2.34 trillion into Nigeria’s Federation Account in November 2025, according to figures released by the Office of the Accountant-General of the Federation (OAGF).
Data contained in a Federation Account Allocation Committee (FAAC) document for the committee’s December meeting show that revenue fell by N591.22 billion compared to the N2.93 trillion recorded in October 2025.
The decline was attributed to weaker performance across five major revenue sources, including oil, tax, customs and consumption-based receipts.
Oil and non-oil revenues slide
According to the FAAC report, collections by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) dropped sharply to N660.04 billion in November, down from N873.1 billion in October.
Similarly, non-oil revenue remitted by the Federal Inland Revenue Service (FIRS) declined to N337.22 billion, compared with N591.15 billion in the previous month.
Revenue from the Nigeria Customs Service (NCS) also weakened, falling to N287.17 billion from N370.28 billion.
Consumption-based revenues recorded similar declines, with Value Added Tax (VAT) collections dropping to N563.04 billion in November from N719.82 billion in October. Proceeds from the Electronic Money Transfer Levy (EMTL) also fell to N43.4 billion, down from N49.86 billion.
NNPC, oil taxes post gains
Despite the broader slowdown, some revenue streams recorded improvements. The Nigerian National Petroleum Company Limited (NNPC) remitted N44.92 billion in November, compared to N14.72 billion in October.
Likewise, oil revenue collected by the FIRS increased to N407.57 billion, up from N315.64 billion in the previous month.
From the total revenue, N49.76 billion was transferred to the Midstream and Downstream Gas Infrastructure Fund (MDGIF) as gas flaring penalties.
As a result of the weaker inflows, net revenue available to the federation declined to N2.29 trillion in November, from N2.87 trillion in October, a month-on-month drop of N581.56 billion.
Deductions ease pressure
Despite lower revenue, total deductions from the Federation Account reduced significantly to N365.1 billion in November, compared with N780.45 billion in October.
The reduction was largely driven by lower savings, as transfers to savings fell to N200 billion from N300 billion in the previous month.
The cost of revenue collection by key agencies — including the FIRS, NCS and NUPRC also declined to N84.25 billion, down from N115.27 billion, representing a reduction of N31.02 billion.
Transfers to the North-East Development Commission (NEDC) dropped to N16.21 billion, from N20.73 billion in October.
Meanwhile, deductions for 13 per cent derivation refunds relating to subsidy, priority projects and the Police Trust Fund remained unchanged at N18.16 billion.
However, deductions for 13 per cent derivation on NNPC management fees and frontier exploration funds fell sharply to N2.87 billion, from N21.47 billion in October.
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) received N6.15 billion as its 0.5 per cent share of non-oil revenue, up from N4.8 billion in the previous month. In addition, N37.45 billion was deducted as arrears for RMAFC’s share covering January to November 2025.
Funds available for sharing decline
After all deductions, the amount available for distribution among the federal, state and local governments fell to N1.92 trillion in November 2025, down from N2.09 trillion in October.
