FG, States, LGs Share N2.036 Trillion as FAAC Revenue Rises Amid Mixed Economic Performance

Abuja.

The Federation Account Allocation Committee (FAAC) has distributed a total of N2.036 trillion to the Federal Government, states, and Local Government Councils for March 2026 revenue, reflecting continued fiscal flows amid mixed trends in key revenue sources.

The allocation was finalised at the April 2026 FAAC meeting held in Abuja, according to a communiqué issued and signed by the Director of Press and Public Relations, Bawa Mokwa.

The distributable revenue comprised N1.320 trillion from statutory earnings, N515.391 billion from Value Added Tax (VAT), and an additional N200 billion augmentation.

In total, gross revenue for the month stood at N2.364 trillion.

From this amount, N81.084 billion was deducted as cost of collection, while N246.872 billion was set aside for transfers, refunds, and savings.

The communiqué noted that statutory revenue recorded a strong improvement, rising to N1.699 trillion in March 2026, compared to N1.561 trillion in February,an increase of N137.914 billion.

However, VAT collections experienced a slight dip, declining marginally to N664.425 billion from N668.450 billion in the previous month.

From the N2.036 trillion distributable pool, the Federal Government received N789.159 billion, states got N657.596 billion, while Local Government Councils received N468.826 billion.

In addition, N120.759 billion, representing 13 per cent derivation revenue, was allocated to oil-producing states.

A further breakdown showed that from the statutory revenue component alone, the Federal Government received N632.260 billion, states N320.691 billion, and local governments N247.239 billion, alongside the derivation fund for oil-producing states.

From VAT revenue, the Federal Government got N51.539 billion, states received N283.465 billion, and local governments received N180.387 billion.

The N200 billion augmentation was shared as follows: Federal Government N105.360 billion, states N53.440 billion, and local governments N41.200 billion.

The committee also observed mixed performance across revenue streams.

While Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, and Excise Duties recorded gains, revenues from Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalties, import duty, and Common External Tariff declined. VAT also posted a slight downturn.

FAAC reiterated that the distribution underscores ongoing efforts to sustain equitable sharing of national resources among the three tiers of government, even as revenue performance continues to fluctuate across key economic sectors.
Edited by Dada Ahmed.