FAAC shares N2.428trn September revenue to FG, states, LGs

The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion to the Federal Government, states, and the Local Government Councils as revenue for September 2026.

The Director of Press and Public Relations in the Office Accountant-General of Federation (OAGF), Bawa Mokwa, disclosed this in a statement issued on Thursday, October 15, 2026.

Mokwa said the allocation was approved by FAAC at its October meeting held in Abuja.

Mokwa said the N2.428 trillion distributable revenue comprised statutory revenue of N1.672 trillion, distributable Value Added Tax (VAT) revenue of N756.587 billion.

Mokwa quoted the FAAC communique as saying that total gross revenue of N3.913 trillion was available in September 2026.

The FAAC said a total deduction for cost of collection was N131.758 billion, with total transfers, refunds and savings of N1.352 trillion.

The FAAC disclosed that a gross statutory revenue of N3.096 trillion was received in September 2026.

The committee said this was higher than the sum of N2.850 trillion received in the preceeding month by N246.384 billion.

It noted that gross revenue of N816.872 billion was available from the VAT in September 2026, saying this was lower than the N834.843 billion available in August 2026 by N17.972 billion.

The FAAC stated that the Federal Government received N832.242 billion and the state governments received N799.872 billion.

The FAAC said the Local Government Councils received N560.660 billion, while N236.049 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.

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The committee said in the N1.672 billion distributable statutory revenue, the Federal Government received N756.583 billion and the State Governments received N383.749 billion.

The committee added that the Local Government Councils received N295.855 billion, while N236.049 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.

The FAAC revealed from the N756.587 billion distributable VAT revenue, the Federal Government received N75.659 billion, the State Governments received N416.123 billion, and the Local Government Councils received N264.805 billion.

The FAAC added that Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Petroleum Royalties, Import Duty, CET Levies and Excise Duty increased significantly in September 2026.

It noted that VAT, Companies Income Tax (CIT), CGT & SDT, Mineral Royalties, and Gas Flared Penalty, Rental Gas Flared Fee and Misc. Oil Revenue decreased considerably.