FAAC distributes N1.894tn revenue to government tiers
The Federation Account Allocation Committee (FAAC) has shared N1.894 trillion among the Federal Government, states, and local government councils as Federation Account revenue for February 2026. This distribution was announced by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation. The revenue was allocated during the March 2026 FAAC meeting in Abuja. The distributed funds include statutory revenue and Value Added Tax (VAT) collections.
What we know
- FAAC shared N1.894 trillion for February 2026, with N1.274 trillion from statutory revenue and N619.119 billion from VAT.
- The Federal Government received N675.088 billion, states got N651.525 billion, and local government councils received N456.467 billion.
- N110.949 billion, representing 13% derivation revenue from mineral resources, was allocated to eligible states.
- Gross revenue for February 2026 was N2.230 trillion, with N77.302 billion deducted as collection costs and N259.078 billion for transfers, refunds, and savings.
- Oil and gas royalty and excise duty revenues increased in February 2026, while receipts from several taxes, including VAT, declined.
