FAAC: FG, States, LGs share N1.894trn February revenue

The Federation Account Allocation Committee (FAAC) has shared N1.894 trillion to the Federal Government, States, and the Local Government Councils as February 2026 federation account Revenue.

The revenue was shared at the March 2026 FAAC meeting held in Abuja.

The N1.894 trillion total distributable revenue comprised distributable statutory revenue of N1.274 trillion and distributable Value Added Tax (VAT) revenue of N619.119 billion.

A communique issued on Friday by the FAAC revealed that total gross revenue of N2.230 trillion was available in February 2026.

The committee said total deduction for cost of collection was N77.302 billion while total transfers, refunds, and savings was N259.078 billion.

The committee disclosed that gross statutory revenue of N1.561 trillion was received for February 2026, noting that this was lower than N1.957 trillion received in the preceeding month by N395.138 billion.

It stated that gross revenue of N668.450 billion was available from the VAT in February 2026, saying this was lower than the N1.083 trillion available in January 2026 by N414.710 billion.

The FAAC stated that from the N1.894 trillion total distributable revenue, the Federal Government received N675.088 billion and the State Governments received total sum of N651,525 billion.

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The FAAC said Local government Council received N456.467 billion, while N110.949 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.

On the N1.274 trillion distributable statutory revenue, the FAAC stated that the Federal Government received N613.174 billion and the State Governments received N311,010 billion.

The committee disclosed that Local Government Councils received N239.776 billion, while N110.949 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.

It said from the N619.119 billion distributable VAT revenue, the Federal Government received N61.912 billion, the State Governments received N340.515 billion, and the Local Government Councils received N216.692 billion.

The FAAC noted that Oil and Gas Royalty and Excise Duty increased significantly in February, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), CGT, and SDT and Value Added Tax (VAT) decreased substantially.

The committee added that Import Duty and CET increased marginally.

The Star