Federal, State, and Local Governments receive N2.036 trillion from March FAAC allocation

A total of N2.036 trillion, representing the Federation Account Revenue for March 2026, has been distributed among the Federal Government, State Governments, and Local Government Councils.

The revenue sharing was finalized during the April 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja.
The total distributable amount of N2.036 trillion consisted of N1.320 trillion in statutory revenue, N515.391 billion from Value Added Tax (VAT), and an augmentation of N200 billion.
According to a communiqué issued by FAAC, the total gross revenue available in March 2026 stood at N2.364 trillion. From this amount, N81.084 billion was deducted as the cost of collection, while N246.872 billion was allocated for transfers, refunds, and savings, alongside the N200 billion augmentation.
The communiqué further disclosed that gross statutory revenue for March 2026 was N1.699 trillion, reflecting an increase of N137.914 billion compared to the N1.561 trillion recorded in February.
However, VAT revenue for the month stood at N664.425 billion, slightly lower than the N668.450 billion generated in February by N4.025 billion.
Out of the N2.036 trillion distributed, the Federal Government received N789.159 billion, State Governments got N657.596 billion, and Local Government Councils received N468.826 billion. Additionally, N120.759 billion, representing 13 percent of mineral revenue, was allocated to oil-producing states as derivation revenue.
From the N1.320 trillion statutory revenue, the Federal Government received N632.260 billion, States got N320.691 billion, while Local Governments received N247.239 billion. The same N120.759 billion was also distributed as derivation revenue to benefiting states.
In terms of VAT distribution, the Federal Government received N51.539 billion, State Governments received N283.465 billion, and Local Government Councils got N180.387 billion.
From the N200 billion augmentation, the Federal Government received N105.360 billion, States received N53.440 billion, and Local Governments got N41.200 billion.
The report also noted that revenues from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and Excise Duty recorded significant increases during the period. In contrast, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty, Import Duty, and Common External Tariff (CET) declined considerably, while VAT saw a marginal decrease.