The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.894 trillion in revenue for February 2026 among the Federal Government, 36 state governments, and the 774 local government councils.
The distribution occurred during the March 2026 FAAC meeting held in Abuja, as detailed in a communiqué signed by the Director of Press and Public Relations, Bawa Mokwa.
The ₦1.894 trillion comprised ₦1.274 trillion from statutory revenue and ₦619.119 billion from Value Added Tax (VAT).
Gross revenue available for February stood at ₦2.230 trillion before deductions. From this amount, ₦77.302 billion was deducted as cost of collection, while ₦259.078 billion was set aside for transfers, refunds, and savings, leaving the distributable balance.
Gross statutory revenue for the month was ₦1.561 trillion, down from ₦1.957 trillion in January—a decline of ₦395.138 billion. Gross VAT revenue was ₦668.450 billion, lower than January’s ₦1.083 trillion, reflecting a drop of ₦414.710 billion.
Breakdown of the ₦1.894 trillion distributable revenue:
– Federal Government: ₦675.088 billion
– 36 States: ₦651.525 billion
– 774 Local Government Councils: ₦456.467 billion
– 13% derivation to oil-producing states: ₦110.949 billion
From statutory revenue (₦1.274 trillion):
– Federal Government: ₦613.174 billion
– States: ₦311.010 billion
– Local Governments: ₦239.776 billion
– Derivation: ₦110.949 billion
From VAT revenue (₦619.119 billion):
– Federal Government: ₦61.912 billion
– States: ₦340.515 billion
– Local Governments: ₦216.692 billion
FAAC noted performance across major revenue sources:
– Increases recorded in oil and gas royalty and excise duty.
– Significant declines in Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Stamp Duties, and Value Added Tax.
– Slight increases in import duty and Common External Tariff.
FAAC meets monthly to distribute Federation Account revenue in line with Nigeria’s revenue-sharing formula among the three tiers of government.
