The Federation Account Allocation Committee (FAAC) distributed a total of N1.894 trillion in revenue generated in February 2026 to the federal government of Nigeria, state governments, and 774 local government councils nationwide. The Federation Account Allocation Committee (FAAC) has shared a total of N1.894 trillion as revenue generated in February 2026 among the federal government of Nigeria, state governments and the 774 local government councils across the country.
Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation, stated on Friday, outlining the details.
According to the statement, the revenue distribution was approved by the FAAC at its March 2026 meeting in Abuja.
The N1.894 trillion shared among the three tiers of government comprised:
N1.274 trillion in distributable statutory revenue and N619.119 billion in value added tax (VAT).
The FAAC communiqué also stated that N2.230 trillion was recorded as total gross revenue for February 2026.
However, N77.302 billion was deducted as the cost of revenue collection, while N259.078 billion was set aside for transfers, refunds, and savings before distribution.
The allocation of the total N1.894 trillion distributable revenue was as follows:
Federal Government: N675.088 billion, State Governments: N651.525 billion, Local Government Councils: N456.467 billion, Derivation (13% mineral revenue): N110.949 billion for eligible states.
The distribution of N1.274 trillion in statutory revenue included:
Federal Government: N613.174 billion, States: N311.010 billion, Local Government: N239.776 billion.
per centOil-producing states received an additional N110.949 billion as 13 percent derivation revenue.
The N619.119 billion VAT pool was divided as follows:
Federal Government: N61.912 billion, States: N340.515 billion, Local Government: N216.692 billion.
The communiqué also stated that gross statutory revenue for February stood at N1.561 trillion, a decrease of N395.138 billion from the N1.957 trillion recorded in January 2026.
Similarly, gross VAT revenue fell to N668.450 billion in February, a decrease of N414.710 billion from N1.083 trillion recorded in January.
While oil and gas royalty and excise duty posted significant increases during the month, FAAC said revenues from several other sources declined.
These include Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and Value Added Tax (VAT), all of which decreased significantly during the period.
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