Nigeria shares ₦2.036tn March revenue among federal state, local governments

A total of ₦2.036 trillion, being the March 2026 Federation Account revenue, has been shared among the Federal Government, states and local governments.

The revenue was distributed at the April 2026 meeting of the Federation Account Allocation Committee held in Abuja, according to a statement issued by the Office of the Accountant-General of the Federation on Wednesday.

The distributable revenue comprised ₦1.320 trillion in statutory revenue, ₦515.391 billion from Value Added Tax and an augmentation of ₦200 billion.

A communiqué from FAAC indicated that total gross revenue available for March 2026 stood at ₦2.364 trillion, from which ₦81.084 billion was deducted as cost of collection, while ₦246.872 billion was recorded for transfers, refunds and savings.

Gross statutory revenue for the month was ₦1.699 trillion, representing an increase of ₦137.914 billion compared to the ₦1.561 trillion recorded in February.

VAT revenue, however, declined slightly to ₦664.425 billion in March from ₦668.450 billion in the preceding month.

From the ₦2.036 trillion shared, the Federal Government received ₦789.159 billion, states got ₦657.596 billion, while local government councils received ₦468.826 billion. Oil producing states also received ₦120.759 billion as derivation revenue, representing 13 per cent of mineral proceeds.

A breakdown of the ₦1.320 trillion statutory revenue showed that the Federal Government received ₦632.260 billion, states ₦320.691 billion and local governments ₦247.239 billion, while ₦120.759 billion was allocated as derivation revenue.

From the ₦515.391 billion VAT pool, the Federal Government received ₦51.539 billion, states ₦283.465 billion and local governments ₦180.387 billion.

Similarly, from the ₦200 billion augmentation, the Federal Government got ₦105.360 billion, states ₦53.440 billion and local governments ₦41.200 billion.

The communiqué noted that Companies Income Tax, Capital Gains Tax, Stamp Duties and excise duty recorded significant increases during the period, while Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalty, import duty and Common External Tariff declined. VAT receipts also recorded a marginal drop.