FAAC Shares ₦2.428trn September Revenue Among FG, States, LGs

The Federation Account Allocation Committee (FAAC) has shared ₦2.428 trillion among the Federal Government, states, and Local Government Councils as revenue for September 2026.

The Director of Press and Public Relations in the Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, disclosed this in a statement issued on Thursday, October 15, 2026.

Mokwa said the allocation was approved by FAAC at its October meeting held in Abuja.

He said the ₦2.428 trillion distributable revenue comprised ₦1.672 trillion in statutory revenue and ₦756.587 billion in distributable Value Added Tax (VAT) revenue.

Mokwa quoted the FAAC communiqué as stating that total gross revenue of ₦3.913 trillion was available in September 2026.

The committee said total deductions for the cost of collection amounted to ₦131.758 billion, while total transfers, refunds, and savings stood at ₦1.352 trillion.

FAAC disclosed that gross statutory revenue of ₦3.096 trillion was received in September 2026.

The committee said this was higher than the ₦2.850 trillion received in the preceding month by ₦246.384 billion.
It noted that gross revenue of ₦816.872 billion was available from VAT in September 2026, adding that this was lower than the ₦834.843 billion recorded in August 2026 by ₦17.972 billion.

FAAC stated that the Federal Government received ₦832.242 billion, while state governments received ₦799.872 billion.
The Local Government Councils received ₦560.660 billion, while ₦236.049 billion, representing 13 per cent of mineral revenue, was shared among the benefiting states as derivation revenue.

The committee said that, from the ₦1.672 trillion in distributable statutory revenue, the Federal Government received ₦756.583 billion, while state governments received ₦383.749 billion.

It added that the Local Government Councils received ₦295.855 billion, while ₦236.049 billion, representing 13 per cent of mineral revenue, was shared among the benefiting states as derivation revenue.

FAAC further revealed that, from the ₦756.587 billion in distributable VAT revenue, the Federal Government received ₦75.659 billion, state governments received ₦416.123 billion, and Local Government Councils received ₦264.805 billion.

The committee added that Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Petroleum Royalties, Import Duty, CET Levies, and Excise Duty recorded significant increases in September 2026.

It noted, however, that VAT, Companies Income Tax (CIT), Capital Gains Tax (CGT) and Stamp Duties (SDT), Mineral Royalties, Gas Flared Penalty, Rental Gas Flared Fee, and Miscellaneous Oil Revenue recorded considerable decreases.