The Federation Account Allocation Committee, FAAC has distributed a total of ₦2.036 trillion as March 2026 federation revenue among the Federal Government, states and local governments. The allocation was approved at its April 2026 meeting in Abuja, according to a statement from the Office of the Accountant General of the Federation.
Officials said the distributable amount included ₦1.320 trillion in statutory revenue, ₦515.391 billion from Value Added Tax (VAT), and a ₦200 billion augmentation.
They explained that total gross revenue for March stood at ₦2.364 trillion, from which authorities deducted ₦81.084 billion for collection costs and ₦246.872 billion for transfers, refunds and savings.
Statutory revenue rose to ₦1.699 trillion, exceeding February’s figure by ₦137.914 billion, while VAT revenue slightly declined to ₦664.425 billion compared with the previous month.
From the total distributable sum, the Federal Government received ₦789.159 billion, state governments got ₦657.596 billion, and local government councils received ₦468.826 billion. Oil-producing states also shared ₦120.759 billion as derivation revenue.
Breaking it down further, the Federal Government received ₦632.260 billion from statutory revenue, states got ₦320.691 billion, and local councils received ₦247.239 billion.
From VAT revenue, the Federal Government received ₦51.539 billion, states received ₦283.465 billion, and local governments received ₦180.387 billion.
The ₦200 billion augmentation was also shared, with ₦105.360 billion going to the Federal Government, ₦53.440 billion to states, and ₦41.200 billion to local councils.
FAAC noted that revenue from Company Income Tax, Capital Gains Tax, Stamp Duties and excise duties increased during the period, while revenue from petroleum-related taxes, royalties and import duties declined. VAT receipts also recorded a slight dip.