FAAC Shares ₦2.43trn Revenue to FG, States, LGAs in September
The Federal Government, state governments and local government councils have shared ₦2.428 trillion in revenue generated into the Federation Account in September 2026.
The revenue allocation was announced in a statement issued on Thursday by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation, following the October 2026 meeting of the Federation Account Allocation Committee (FAAC) in Abuja.
The total distributable revenue comprised ₦1.672 trillion from statutory revenue and ₦756.587 billion from Value Added Tax (VAT).
According to the FAAC communiqué, the Federation Account recorded gross revenue of ₦3.913 trillion in September. Of this amount, ₦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, representing an increase of ₦246.384 billion from the ₦2.850 trillion recorded in August 2026.
However, gross VAT revenue declined to ₦816.872 billion in September from ₦834.843 billion in the preceding month, representing a decrease of ₦17.972 billion.
How the Revenue Was Shared
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Under the September allocation, the Federal Government received ₦832.242 billion, while state governments received ₦799.872 billion. Local government councils received ₦560.660 billion, and ₦236.049 billion was allocated to eligible states as 13 per cent derivation revenue from mineral resources.
A breakdown of the ₦1.672 trillion distributable statutory revenue showed that the Federal Government received ₦756.583 billion, state governments received ₦383.749 billion, and local government councils received ₦295.855 billion. The benefiting states also received ₦236.049 billion as derivation revenue.
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.
Revenue Performance
The communiqué reported increases in receipts from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty during the period.
Conversely, revenue from Companies Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties, gas-flaring penalties and fees, and miscellaneous oil revenue declined.
The September allocation reflects the revenue available for distribution among the three tiers of government, with statutory revenue providing the larger share of the distributable pool.
By PRNigeria
