FAAC: FG, States, LGs Share N2.338trn, As Gross Revenue Hits N3.685trn
The Federal Government, states and local government councils have shared a total of N2.338 trillion from revenue generated in August 2026.
The Federation Account Allocation Committee (FAAC) disclosed this in the communiqué issued after its September 2026 meeting, chaired by the Accountant-General of the Federation, Mr Shamseeldeen Ogunjimi.
According to the communiqué, the total distributable revenue comprised N1.565 trillion from Statutory Revenue and N773.233 billion from Value Added Tax (VAT).
From the allocation, the Federal Government received N804.897 billion, while the states got N794.313 billion and the Local Government Councils received N555.142 billion.
An additional N184.388 billion was distributed as 13 per cent derivation revenue to oil-producing states.
The committee also reported that the gross revenue available from VAT for August stood at N834.843 billion, representing an increase of N40.875 billion from the N793.968 billion recorded in the preceding month.
After deductions for the cost of collection and Transfers, Intervention and Refunds, N733.233 billion of the VAT revenue was distributed among the three tiers of government.
The Federal Government received N77.323 billion from the distributable VAT, while states received N425.278 billion and local government councils got N270.632 billion.
Meanwhile, Gross Statutory Revenue for August stood at N2.850 trillion, representing a decrease of N1.509 trillion from the N4.359 trillion recorded in the previous month.
After deductions and adjustments, N1.565 trillion was distributed as Statutory Revenue. The Federal Government received N727.573 billion, states got N369.035 billion, while local government councils received N284.511 billion.
The communiqué further stated that revenue from Petroleum Profit Tax, Hydrocarbon Tax, VAT, Customs and Excise Duties levies and Excise Duty increased during the period under review.
However, revenue from Companies Income Tax/Capital Gains Tax, Stamp Duty Tax, Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental, Gas Flared Fee and Miscellaneous Oil Revenue recorded declines.
FAAC also disclosed that N125.142 billion was deducted as cost of collection, while N1.221 trillion was allocated for Transfers, Intervention and Refunds.
Overall, the committee said the N2.338 trillion distributed for August was drawn from N1.565 trillion in Statutory Revenue and N773.233 billion in VAT.
