…Statutory revenue rises by ₦246bn as VAT receipts decline.
The Federal Government, state governments and local government councils have shared ₦2.428 trillion as revenue accrued to the Federation Account in September 2026.
According to a statement by Bawa Mokwa, director of press and public relations in the Office of the Accountant General of the Federation, the figures were released after the October 2026 meeting of the Federation Account Allocation Committee (FAAC), held in Abuja.
The distributable revenue comprised ₦1.672 trillion from statutory revenue and ₦756.587 billion from Value Added Tax (VAT).
Of the total amount, the federal government received ₦832.242 billion, while state governments received ₦799.872 billion. Local government councils received ₦560.660 billion, while oil-producing states shared ₦236.049 billion as the 13 per cent derivation revenue.
The communiqué stated that the Federation Account recorded gross revenue of ₦3.913 trillion in September. However, ₦131.758 billion was deducted as the cost of collection, while ₦1.352 trillion went to transfers, refunds and savings.
Gross statutory revenue stood at ₦3.096 trillion in September, representing an increase of ₦246.384 billion over the ₦2.850 trillion recorded in August.
In contrast, gross VAT revenue fell to ₦816.872 billion from ₦834.843 billion in August, representing a decline of ₦17.972 billion.
The committee attributed the revenue performance to increases in receipts from petroleum profit tax, hydrocarbon tax, petroleum royalties, import duty, common external tariff levies, and excise duty.
However, revenue from company income tax, capital gains tax, stamp duties, VAT, mineral royalties, gas-flaring penalties, rental gas-flaring fees, and miscellaneous oil revenue declined during the period.
A breakdown of the ₦1.672 trillion distributable statutory revenue showed that the federal government received ₦756.583 billion, while state governments received ₦383.749 billion.
Local government councils received ₦295.855 billion, while oil-producing states received ₦236.049 billion as their 13 per cent derivation allocation.
From the ₦756.587 billion 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 allocations form part of the monthly revenue-sharing arrangements among the three tiers of government.
