The Federation Account Allocation Committee (FAAC) has distributed N2.428 trillion among the Federal Government, state governments and local government councils from Federation Account revenue and Value Added Tax (VAT) proceeds for September 2026.
According to a communiqué released after the committee’s meeting in Abuja, the amount represents an increase from the N2.338 trillion shared among the three tiers of government in the previous month.
The total allocation comprised N1.672 trillion from statutory revenue and N756.587 billion from VAT.
FAAC disclosed that the gross revenue generated in September amounted to N3.913 trillion. Of this figure, N131.758 billion was deducted as the cost of collection, while N1.352 trillion was allocated to transfers, refunds and savings.
The communiqué also revealed that gross statutory revenue rose to N3.096 trillion in September, representing an increase of N246.384 billion compared with the N2.850 trillion recorded in August.
However, gross VAT revenue declined to N816.872 billion from N834.843 billion in August, reflecting a drop of N17.972 billion.
Out of the N2.428 trillion distributed, the Federal Government received N832.242 billion, while state governments were allocated N799.872 billion.
Local government councils received N560.660 billion, while N236.049 billion was distributed among eligible states as 13 per cent derivation revenue from mineral resources.
A breakdown of the N1.672 trillion statutory revenue allocation showed that the Federal Government received N756.583 billion, state governments got N383.749 billion, and local government councils were allocated N295.855 billion.
The benefiting states also received N236.049 billion as their 13 per cent derivation revenue.
From the N756.587 billion shared as VAT revenue, the Federal Government received N75.659 billion, state governments got N416.123 billion, while local government councils were allocated N264.805 billion.
FAAC further reported significant increases in revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty during the period.
However, revenue receipts from Companies Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties, gas-flaring penalties and fees, as well as miscellaneous oil revenue, recorded declines.