The Federal Government, states and Local Government Councils have shared ₦2.338 trillion from the August 2026 Federation Account revenue.
The money was shared at the September meeting of the Federation Account Allocation Committee held in Abuja.
The distributable revenue comprised ₦1.565 trillion in statutory revenue and ₦773.233 billion from Value Added Tax.
According to the FAAC communiqué, a total gross revenue of ₦3.685 trillion was available for distribution in August.
Of this amount, ₦125.142 billion was deducted as the cost of collection, while ₦1.221 trillion was allocated to transfers, refunds and savings.
The committee said gross statutory revenue fell to ₦2.850 trillion in August from ₦4.359 trillion in July.
This represents a decrease of ₦1.508 trillion during the month.
However, gross VAT revenue increased to ₦834.843 billion in August from ₦793.968 billion in July.
That represents a month-on-month increase of ₦40.875 billion.
How the revenue was shared
From the ₦2.338 trillion distributable revenue, the Federal Government received ₦804.897 billion.
The states received ₦794.313 billion, while the Local Government Councils received ₦555.142 billion.
In addition, ₦184.388 billion, representing 13 per cent of mineral revenue, was distributed to benefiting states as derivation revenue.
Statutory revenue
Of the ₦1.565 trillion shared as statutory revenue, the Federal Government received ₦727.573 billion.
The states received ₦369.035 billion, while the Local Government Councils received ₦284.511 billion.
A further ₦184.388 billion was distributed to benefiting states as derivation revenue.
VAT revenue
From the ₦773.233 billion distributable VAT revenue, the Federal Government received ₦77.323 billion.
The states received ₦425.278 billion, while the Local Government Councils received ₦270.632 billion.
The FAAC communiqué also reported mixed revenue performance across key sources.
Revenue from Petroleum Profit Tax, Hydrocarbon Tax, Value Added Tax, Customs Excise Tariff levies and Excise Duty increased significantly in August.
However, revenue from Companies Income Tax, Capital Gains Tax, Stamp Duty, Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental Gas Flared Fee and Miscellaneous Oil Revenue declined considerably.
The latest allocation reflects the revenue available for distribution among the three tiers of government after deductions, transfers, refunds and savings for the month.