The Federation Account Allocation Committee has distributed ₦2.428 trillion among the Federal Government, state governments and local government councils, as revenue accrued to the Federation Account and proceeds from Value Added Tax for September 2026.
A communiqué issued at the end of the committee’s meeting in Abuja stated that the amount was higher than the ₦2.338 trillion shared in the preceding month.
The total distributable revenue was made up of ₦1.672 trillion in statutory revenue and ₦756.587 billion from VAT.
The committee disclosed that gross revenue for September stood at ₦3.913 trillion.
Out of that figure, ₦131.758 billion was deducted as the cost of collection, while ₦1.352 trillion went to transfers, refunds and savings.
The communiqué stated that gross statutory revenue of ₦3.096 trillion was recorded in September, an increase of ₦246.384 billion over the ₦2.850 trillion recorded in August.
Gross VAT revenue, however, fell to ₦816.872 billion in September from ₦834.843 billion in August, a decline of ₦17.972 billion.
Of the ₦2.428 trillion total distributable revenue, the Federal Government received ₦832.242 billion, while state governments received ₦799.872 billion.
Local government councils received ₦560.660 billion, while ₦236.049 billion was shared among benefiting states as 13 per cent derivation revenue from mineral resources.
A breakdown of the ₦1.672 trillion distributable statutory revenue showed that the Federal Government received ₦756.583 billion.
State governments got ₦383.749 billion, while local government councils received ₦295.855 billion.
The benefiting states also received ₦236.049 billion as derivation revenue.
From the ₦756.587 billion distributable VAT revenue, the Federal Government received ₦75.659 billion.
State governments got ₦416.123 billion, while local government councils received ₦264.805 billion.
FAAC said revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty increased significantly during the period.
Receipts from Companies Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties, gas-flaring penalties and fees, and miscellaneous oil revenue, however, declined.
