FAAC distributes N2.04tn as March revenue rises
The Federation Account Allocation Committee has shared N2.04 trillion as revenue for March 2026, marking a notable increase from the previous month. The distribution was detailed in a statement by the Office of the Accountant General of the Federation, signed by Bawa Mokwa. The revenue boost was largely driven by stronger statutory inflows, despite a slight dip in VAT collections. The latest allocation reflects ongoing shifts between oil and non-oil revenue sources for federal, state, and local governments.
TLDR
- A total of N2.036tn was shared for March 2026 at the April 2026 FAAC meeting in Abuja, up by N150bn from February.
- The Federal Government received N789.16bn, states got N657.60bn, and local governments received N468.83bn; oil-producing states received N120.76bn as derivation.
- Gross statutory revenue for March 2026 was N1.699tn, an increase of N137.91bn from February.
- VAT collections for March 2026 were N664.425bn, slightly lower than February’s N668.450bn.
- Non-oil tax revenues such as Companies Income Tax and Stamp Duties increased, while oil-related revenues and VAT showed declines.
