FAAC shares N2.338trn August revenue to FG, States, LGs

The Federation Account Allocation Committee (FAAC) has shared N2.338 trillion to the Federal Government, States, and the Local Government Councils as revenue for August 2026.

The Director of Press and Public Relations in the Office of Accountant-General of the Federation (OAGF), Bawa Mokwa, disclosed this in a statement issued on Thursday, September 17, 2026.

Mokwa said the revenue was shared at the FAAC meeting held recently in Abuja.

He said the N2.338 trillion total distributable revenue comprised distributable statutory revenue of N1.565 trillion and distributable Value Added Tax (VAT) revenue of N773.233 billion.

Mokwa quoted a communique issued by the FAAC as stating that total gross revenue of N3.685 trillion was available in August 2026.

The committee noted that total deduction for cost of collection was N125.142 billion while total transfers, refunds and savings was N1.221 trillion.

It added that gross statutory revenue of N2.850 trillion was received for August which was lower than the sum of N4.359 trillion received in the preceding month by N1.508 trillion.

The FAAC said gross revenue of N834.843 billion was available from the Value Added Tax (VAT) in August 2026, adding that this was higher than the N793.968 billion available in July 2026 by N40.875 billion.

The FAAC said from the N2.338 trillion total distributable revenue, the Federal Government received N804.897 billion and the State Governments received N794.313 billion.

It added that Local Government Councils received N555.142 billion, while the sum of N184.388 billion (13 per cent of mineral revenue) was shared to the benefiting state as derivation revenue.

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On the N1.565 billion distributable statutory revenue, the FAAC said the Federal Government received N727.573 billion and the State Governments received N369.035 billion, while the Local Government Councils received N284.511 billion

The committee said N184.388 billion (13 per cent of mineral revenue) was shared to the benefiting States as derivation revenue.

The FAAC disclosed that from the N773.233 billion distributable VAT revenue, the Federal Government received N77.323 billion, the State Governments received N425.278 billion, and the Local Government Councils received N270.632 billion.

The FAAC noted that Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Value Added Tax (VTA), CET Levies and Excise Duty increased significantly in August 2026.

It added that Companies Income Tax (CIT), CGT, SDT, Petroleum Royalties, Mineral Royalties, and Gas Flared Penalty Import Duty, Rental Gas Flared Fee and Misc Oil Revenue decreased considerably.