FAAC Shares N2.338trn Revenue to FG, States, LGs in August
The Federal Government, state governments and local government councils have shared a total of N2.338 trillion in revenue for August 2026.
The Federation Account Allocation Committee (FAAC) disclosed this in a communiqué issued after its September 2026 meeting in Abuja.
Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation, made the details available in a statement issued on Thursday.
The N2.338 trillion distributable revenue comprised N1.565 trillion in statutory revenue and N773.233 billion from Value Added Tax (VAT).
According to the communiqué, a total gross revenue of N3.685 trillion accrued to the federation in August.
Of the amount, N125.142 billion was deducted as the cost of collection, while N1.221 trillion was allocated to transfers, refunds and savings.
The committee said gross statutory revenue stood at N2.850 trillion in August, representing a decrease of N1.508 trillion compared with the N4.359 trillion recorded in July.
In contrast, gross VAT revenue increased to N834.843 billion in August from N793.968 billion in July, representing a rise of N40.875 billion.
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From the N2.338 trillion total distributable revenue, the Federal Government received N804.897 billion, while state governments received N794.313 billion.
Local government councils received N555.142 billion, while N184.388 billion, representing the 13 per cent derivation from mineral revenue, was allocated to benefiting states.
A breakdown of the N1.565 trillion distributable statutory revenue showed that the Federal Government received N727.573 billion, state governments received N369.035 billion and local government councils received N284.511 billion.
The benefiting states also received N184.388 billion as the 13 per cent derivation revenue from mineral resources.
Similarly, of the N773.233 billion distributable VAT revenue, the Federal Government received N77.323 billion, state governments received N425.278 billion, while local government councils received N270.632 billion.
The committee said Petroleum Profit Tax, Hydrocarbon Tax, Value Added Tax, Customs and Excise Duties increased significantly during the month under review.
However, revenue from Companies Income Tax, Capital Gains Tax, Stamp Duty Tax, petroleum royalties, mineral royalties, gas-flaring penalties, import duty, rental gas-flaring fees and miscellaneous oil revenue recorded considerable declines.
By PRNigeria
