FAAC shares N2.43 trillion among FG, states, LGs for September

The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion among the Federal Government, 36 state governments and 774 local government councils as revenue for September 2026.

The Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement issued on Thursday in Abuja following FAAC’s October meeting.

The distributable revenue comprised N1.672 trillion in statutory revenue and N756.587 billion from Value Added Tax (VAT), according to the statement.

FAAC revenue rises to N3.91 trillion

Mokwa said total gross revenue of N3.913 trillion was available for distribution in September, before deductions for collection costs, transfers, refunds and savings.

A total of N131.758 billion was deducted as the cost of collection, while transfers, refunds and savings amounted to N1.352 trillion.

• Gross statutory revenue rose to N3.096 trillion in September, up by N246.384 billion from the N2.850 trillion recorded in August.
• Gross VAT revenue stood at N816.872 billion in September, down from N834.843 billion in August.
• The decline in VAT revenue amounted to N17.972 billion compared with the preceding month.
• Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, CET levies and excise duty recorded significant increases.

Companies Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties, gas-flaring penalties, gas-flaring fees and miscellaneous oil revenue recorded declines, according to Mokwa.

The revenue figures reflect mixed performances across the different sources of government income, with statutory revenue increasing while gross VAT collections declined.

Federal Government receives N832.24 billion

Of the N2.428 trillion distributable revenue, the Federal Government received N832.242 billion, while state governments received N799.872 billion. Local government councils received N560.660 billion.

• The benefiting states also shared N236.049 billion as 13% derivation revenue from mineral resources.
• The statutory revenue component was distributed separately among the three tiers of government and the benefiting states.
• The Federal Government received N756.583 billion from the N1.672 trillion distributable statutory revenue.
• State governments received N383.749 billion, while local government councils received N295.855 billion.

From the N756.587 billion distributable VAT revenue, the Federal Government received N75.659 billion, states received N416.123 billion, and local government councils received N264.805 billion.

The allocations show the respective shares of the three tiers of government, alongside the derivation component paid to eligible states.

States’ FAAC allocations increase in Q2

Nairametrics previously reported that Nigeria’s 36 states received a combined N2.39 trillion from the Federation Account in the second quarter of 2026.

That represented an increase of N259.41 billion, or 12.2%, from the N2.13 trillion received in the first quarter.

The increase came as state governments continued to rely on Federation Account allocations to fund public expenditure, including infrastructure and other government responsibilities.

The September allocation provides another monthly distribution of federally collected revenue among the three tiers of government, with the amount available to each determined by the applicable revenue-sharing arrangements.