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FAAC SHARES N736.782 BILLION OCTOBER 2022 REVENUE TO FG, STATES AND LGCs

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By Lateef Taiwo

The Federation Account Allocation Committee (FAAC) has shared a total sum of N736.782 billion October 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils.

This was contained in a communiqué issued at the end of the Federation Account Allocation Committee (FAAC) meeting for November 2022.

The N736.782 billion total distributable revenue comprised distributable statutory revenue of N417.724 billion, distributable Value Added Tax (VAT) revenue of N213.283 billion, Exchange Gain revenue of N5.775 billion and N100.000 billion Augmentation from Non-oil Revenue

In October 2022, the total deductions for cost of collection was N33.555 billion and total deductions for transfers, savings and refunds was N186.749 billion.

The balance in the Excess Crude Account (ECA) was $472,513.64.

The communiqué confirmed that from the total distributable revenue of N736.782 billion; the Federal Government received N293.955 billion, the State Governments received N239.512 billion and the Local Government Councils received N177.086 billion. The total sum of N26.228 billion was shared to the relevant States as 13% derivation revenue.

Gross statutory revenue of N622.270 billion was received for the month of October 2022. This was lower than the sum of N825.710 billion received in the previous month by N203.440 billion.

From the N417.724 billion distributable statutory revenue, the Federal Government received N206.576 billion, the State Governments received N104.778 billion and the Local Government Councils received N80.779 billion. The sum of N25.591 billion was shared to the relevant States as 13% derivation revenue.

For the month of October 2022, the gross revenue available from the Value Added Tax (VAT) was N229.041billion. This was higher than the N203.960 billion available in the month of September 2022 by N25.081billion.

The Federal Government received N31.992 billion, the State Governments received N106.642 billion and the Local Government Councils received N74.649 billion from the N213.283 billion distributable Value Added Tax (VAT) revenue.

The N5.775 billion from the Exchange Gain revenue was distributed as follows: the Federal Government received N2.707 billion, the State Governments received N1.373 billion, the Local Government Councils received N1.058 billion and the relevant States received N0.637 billion as 13% derivation revenue.

From the N100.000 billion Augmentation, the Federal Government received N52.680 billion, the State Governments received N 26.720 billion and the Local Government Councils received N20.600 billion.

According to the Communiqué, in the month of October 2022, Value Added Tax (VAT) and Companies Income Tax (CIT) increased significantly while Oil and Gas Royalties, Petroleum Profit Tax (PPT) Import Duty recorded considerable decreases. However, Excise Duty increased marginally.

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Beyond Displacement: How Vocational Training Is Empowering Over 100 Women and Girls in Abuja

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By Joel Ajayi

For women and girls living at the New Kuchingoro Internally Displaced Persons (IDP) Camp in Abuja, rebuilding their lives requires more than shelter and basic necessities. The opportunity to acquire practical skills, earn an income and provide for their families can also play a crucial role in restoring confidence and creating a pathway towards economic independence.

This aspiration informed the five-day Life Skills Bootcamp organised by GLIDE Media Foundation in partnership with the Nigeria Revenue Service (NRS), which provided more than 100 displaced women and girls with vocational training and start-up funding.

The programme, which culminated in a grand finale on Saturday, October 24, 2026, was designed to equip participants with practical knowledge, entrepreneurial skills and financial management techniques to help them establish small businesses and improve their livelihoods.

For the participants, the initiative offered an opportunity to explore income-generating activities that could help them support their families while navigating the economic difficulties associated with displacement.

Turning Skills into Opportunities

At the heart of the programme was the recognition that practical skills can open doors to economic opportunities, particularly for people facing difficult living conditions.

The bootcamp combined classroom-style sessions with hands-on vocational training, allowing participants to learn both the principles of running a business and the practical steps involved in producing goods for sale.

During the practical sessions, participants received training in making beaded slippers, baking, producing soap and preparing petroleum jelly.

They were divided into three groups, with specialised trainers demonstrating production techniques and supervising their activities.

Beyond learning how to make the products, participants received guidance on packaging, marketing and selling their goods. These additional skills were intended to help them understand how to turn their newly acquired abilities into viable small-scale businesses.

The provision of start-up funds at the conclusion of the programme was another important component, offering participants financial support to begin applying what they had learnt.

By combining vocational instruction with initial funding, the organisers sought to bridge the gap between acquiring skills and putting them to productive use.

Building Financial Confidence

The programme also recognised that earning money is only one part of running a successful business. Knowing how to manage income, control expenditure and save for future needs is equally important.

Consequently, the theoretical sessions covered budgeting, saving, expenditure planning and the need to keep personal finances separate from business funds.

Participants were encouraged to understand how financial decisions could affect their businesses and household welfare.

Facilitators also introduced digital financial services, including OPay and Moniepoint, highlighting their potential to support transactions and the management of small businesses.

The sessions provided an opportunity for participants already engaged in business to share their experiences, including the challenges of managing earnings and attracting customers.

Discussions also explored how social media could help entrepreneurs promote their products beyond their immediate communities and reach a wider customer base.

For aspiring business owners, these lessons offered a foundation for thinking beyond production to the practical demands of operating a business in an increasingly competitive environment.

Confidence, Parenting and Personal Development

While economic empowerment remained central to the initiative, the bootcamp also addressed personal development, decision-making, leadership and wellbeing.

Participants were encouraged to build confidence, identify achievable goals and recognise their capacity to contribute to their families and communities despite the challenges associated with displacement.

Parenting and child protection also featured prominently during the sessions.

Discussions covered positive parenting practices, children’s emotional wellbeing, school attendance and the difficulties of balancing childcare responsibilities with income-generating activities.

Facilitators emphasised the importance of supportive home environments and explained how parental behaviour could influence children’s development.

The inclusion of these subjects reflected the programme’s broader focus on helping participants navigate both their economic responsibilities and family obligations.

For women and girls managing several demands, the combination of livelihood training and personal development offered a more comprehensive approach to building resilience.

A Pathway Towards Economic Independence

GLIDE Media Foundation said the initiative was designed to equip displaced women and girls with practical skills that could support their families and reduce their dependence on external assistance.

The partnership with the NRS provided support for a programme that combined entrepreneurship, financial literacy, vocational instruction and start-up funding.

The foundation expressed hope that participants would continue developing their skills and translate the training into sustainable businesses capable of improving their economic circumstances.

However, the long-term impact of the initiative will depend partly on participants’ ability to establish businesses, attract customers and manage their earnings effectively.

Continued guidance, access to markets and opportunities to strengthen their skills could further support their efforts to build sustainable livelihoods.

For the more than 100 women and girls who participated, the bootcamp represents an opportunity to move from learning to action.

Ultimately, its success will be reflected not only in the skills acquired during the five days but also in how effectively participants use their training and start-up funds to generate income, support their families and build greater economic independence.

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