The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.036 trillion as revenue for March 2026 among the Federal Government, states and Local Government Councils.
The revenue was distributed at the April 2026 FAAC meeting held in Abuja, according to a communiqué issued at the end of the meeting
The communiqué, signed by the director of press and public relations, Bawa Mokwa, on Wednesday stated that the total distributable revenue comprised N1.320 trillion as statutory revenue, N515.391 billion from Value Added Tax (VAT), and an augmentation of N200 billion.
It further revealed that a gross revenue of N2.364 trillion was available in March 2026. From this, N81.084 billion was deducted as cost of collection, while N246.872 billion went for transfers, refunds and savings.
Providing a breakdown, Mokwa said, “The gross statutory revenue of N1.699 trillion received for the month of March 2026 was higher than the N1.561 trillion recorded in the preceding month by N137.914 billion.”
He added that VAT collections recorded a slight decline, noting that, “Gross VAT revenue stood at N664.425 billion in March, which was lower than the N668.450 billion recorded in February by N4.025 billion.”
From the total distributable revenue of N2.036 trillion, the Federal Government received N789.159 billion, state governments got N657.596 billion, while Local Government Councils received N468.826 billion.
Additionally, N120.759 billion, representing 13 per cent derivation revenue, was shared among oil-producing states.
On the statutory revenue component of N1.320 trillion, the Federal Government received N632.260 billion, states got N320.691 billion, while Local Government Councils received N247.239 billion. The sum of N120.759 billion was also allocated as derivation revenue to benefiting states.
From the N515.391 billion VAT revenue, the Federal Government received N51.539 billion, states got N283.465 billion, and Local Government Councils received N180.387 billion.
Similarly, from the N200 billion augmentation, the Federal Government received N105.360 billion, states received N53.440 billion, while Local Government Councils got N41.200 billion.
The communiqué also noted mixed performance in revenue streams, with increases recorded in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT) and Excise Duty. However, revenues from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalty, import duty and Common External Tariff (CET) declined, while VAT recorded a marginal decrease.
Mokwa reiterated that the revenue distribution reflects ongoing efforts to ensure equitable allocation of resources among the three tiers of government.
