The Federation Account Allocation Committee has disclosed that a total of N2.33 trillion was shared among the federal government, states, and local government councils for the month of August.

The amount marks a 22.3 per cent drop compared to the N3 trillion that was distributed in July.

This was disclosed in a statement issued on Thursday by Bawa Mokwa, director of press and public relations at the Office of the Accountant-General of the Federation, following the FAAC meeting held in Abuja in September.

The statement explained that the N2.33 trillion total distributable revenue was made up of N1.56 trillion in distributable statutory revenue and N773.23 billion in distributable value-added tax (VAT) revenue.

FAAC disclosed that a gross revenue of N3.68 trillion was available for the month of August 2026.

According to the committee, the total cost of collection deducted stood at N125.14 billion, while total transfers, refunds, and savings amounted to N1.22 trillion.

FAAC stated that gross statutory revenue for August stood at N2.85 trillion, representing a decline of N1.5 trillion compared to the N4.35 trillion recorded in July.

“Gross revenue of N834.84 billion was available from the Value Added Tax (VAT) in August 2026,” the statement reads.

“This was higher than the N793.96 billion available in the month of July 2026 by N40.87 billion.”

From the N2.33 trillion total distributable revenue, FAAC disclosed that the federal government received N804.89 billion, states received N794.31 billion, and local governments received N555.14 billion.

“The sum of N184.388 billion (13 per cent of mineral revenue) was shared to the benefiting state as derivation revenue,” FAAC said.

On the N1.56 trillion distributable statutory revenue, the committee said the federal government received N727.57 billion, states got N369.03 billion, while local governments received N284.51 billion.

The committee further noted that N184.38 billion was shared to benefiting states as 13 per cent derivation revenue.

FAAC also disclosed that out of the N773.23 billion distributable VAT revenue, the federal government received N77.32 billion, states received N425.27 billion, while local government councils received N270.63 billion.

According to the committee, revenue from petroleum profit tax, hydrocarbon tax, VAT, common external tariff levies, and excise duty increased significantly in August.

FAAC, however, reported that company income tax, capital gains tax, petroleum royalties, mineral royalties, gas flared penalty, import duty, and rent on gas flared fee all declined considerably during the period.