FG, states, LGs share ₦2.428tn September revenue

The Federation Account Allocation Committee (FAAC) has distributed ₦2.428 trillion among the Federal Government, states and local government councils as revenue for September 2026.

The allocation was approved at the committee’s October meeting in Abuja, according to a statement issued on Thursday by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation.

The distributable revenue comprised ₦1.672 trillion in statutory revenue and ₦756.587 billion from Value Added Tax (VAT).

According to the FAAC communiqué, total gross revenue for September stood at ₦3.913 trillion, with ₦131.758 billion deducted as collection costs and ₦1.352 trillion recorded as transfers, refunds and savings.

Of the total amount distributed, the Federal Government received ₦832.242 billion, while the 36 state governments received ₦799.872 billion.

Local government councils received ₦560.660 billion, while oil-producing states shared an additional ₦236.049 billion as the 13% derivation allocation from mineral revenue.

The committee disclosed that gross statutory revenue increased to ₦3.096 trillion in September, compared with ₦2.850 trillion recorded in August, representing an increase of ₦246.384 billion.

However, gross VAT revenue declined from ₦834.843 billion in August to ₦816.872 billion in September, a reduction of ₦17.972 billion.

A breakdown of the ₦1.672 trillion statutory allocation showed that the Federal Government received ₦756.583 billion, states received ₦383.749 billion and local government councils received ₦295.855 billion.

The oil-producing states also received ₦236.049 billion as derivation revenue.

From the ₦756.587 billion distributable VAT revenue, the Federal Government received ₦75.659 billion, states received ₦416.123 billion and local government councils received ₦264.805 billion.

FAAC further reported significant increases in Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duties, Common External Tariff levies and excise duties during the month.

However, Companies Income Tax, Capital Gains Tax, Value Added Tax, mineral royalties, gas-flaring penalties and miscellaneous oil revenue recorded declines.

The monthly FAAC allocation represents revenue collected into the Federation Account and shared among the three tiers of government in accordance with the country’s revenue-sharing framework.