By Oluwakemi Kindness
The Federal Government, state governments, and local government councils have shared a total of N2.036 trillion as Federation Account Allocation Committee (FAAC) revenue for March 2026.
The distribution followed the April FAAC meeting held in Abuja, according to a communiqué issued by Bawa Mokwa, Director of Press at the Office of the Accountant-General of the Federation.
The distributable revenue comprised N1.320 trillion in statutory revenue, N515.391 billion from Value Added Tax (VAT), and N200 billion as augmentation.
Revenue Breakdown
FAAC disclosed that total gross revenue available in March stood at N2.364 trillion.
From this, N81.084 billion was deducted as cost of collection, while N246.872 billion was allocated for transfers, refunds, and savings.
Allocation to FG, States, LGs
The communique said from the N2.036 trillion FAAC revenue:
- Federal Government: N789.159 billion
- State Governments: N657.596 billion
- Local Government Councils: N468.826 billion
Additionally, N120.759 billion was distributed to oil-producing states as 13% derivation revenue.
Statutory Revenue Distribution
Also Mokwa, said the N1.320 trillion statutory revenue:
- Federal Government: N632.260 billion
- States: N320.691 billion
- Local Governments: N247.239 billion
- Derivation: N120.759 billion
VAT Revenue Distribution
From the N515.391 billion VAT revenue:
- Federal Government: N51.539 billion
- States: N283.465 billion
- Local Governments: N180.387 billion
Augmentation Sharing
The FAAC communique added that from the N200 billion augmentation:
- Federal Government: N105.360 billion
- States: N53.440 billion
- Local Governments: N41.200 billion
Revenue Performance
FAAC reported an increase in gross statutory revenue, which rose to N1.699 trillion in March from N1.561 trillion in February.
However, VAT revenue declined slightly to N664.425 billion, compared to N668.450 billion in the previous month.
The committee also recorded increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and Excise Duty, while revenues from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalties, import duty, and Common External Tariff (CET) declined.
The latest FAAC revenue distribution highlights ongoing shifts in Nigeria’s revenue profile, with improved non-oil tax performance and continued volatility in oil-related income.
