FAAC: FG, States, LGAs share N2.036trn March revenue

A total sum of N2.036 trillion, being March 2026 Federation Account revenue, has been disbursed to the Federal Government, states and local government councils.

The revenue was shared at the April 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja.

The N2.036 trillion total distributable revenue comprised N1.320 trillion as distributable statutory revenue, N515.391 billion as distributable Value Added Tax (VAT) revenue, and N200 billion as augmentation.

A communiqué issued after the meeting indicated that a total 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, alongside the N200 billion augmentation.

According to the communiqué, gross statutory revenue of N1.699 trillion was recorded in March, representing an increase of N137.914 billion compared to the N1.561 trillion received in February. However, 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.

Breakdown of the N2.036 trillion distributable revenue showed that the Federal Government received N789.159 billion, state governments got N657.596 billion, while local government councils received N468.826 billion.

In addition, N120.759 billion, representing 13 per cent of mineral revenue, was shared to benefiting states as derivation revenue.

From the N1.320 trillion distributable statutory revenue, the Federal Government received N632.260 billion, states got N320.691 billion, and local government councils received N247.239 billion, while N120.759 billion was allocated as derivation revenue.

Similarly, from the N515.391 billion distributable VAT revenue, the Federal Government received N51.539 billion, states got N283.465 billion, and local government councils received N180.387 billion.

In comparison, the Federal Government, states and local government councils shared a total of N1.894 trillion as revenue for February 2026.