The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion in September 2026 revenue among the Federal Government, state governments and local government councils.
The allocation was announced after the committee’s October meeting in Abuja, according to a statement by Bawa Mokwa, spokesperson for the Office of the Accountant-General of the Federation.
The distributable revenue comprised N1.672 trillion in statutory revenue and N756.587 billion from Value Added Tax (VAT).
Of the total, the Federal Government received N832.242 billion, state governments got N799.872 billion, while local government councils received N560.660 billion. Oil-producing states shared an additional N236.049 billion as their 13 percent derivation revenue.
The Federation generated N3.913 trillion in gross revenue during the month. However, N131.758 billion was deducted as collection costs, while N1.352 trillion went towards transfers, refunds and savings.
Gross statutory revenue rose by N246.384 billion to N3.096 trillion from N2.850 trillion in August. In contrast, gross VAT revenue fell to N816.872 billion from N834.843 billion in the preceding month.
The committee said revenue from petroleum profit tax, hydrocarbon tax, petroleum royalties, import duty and excise duty increased, while receipts from companies income tax, VAT, stamp duties and some oil-related revenue sources declined.
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