From Victor Osula, Abuja
The Federation Allocation Account Committee (FAAC), has shared a total sum of N2.036 trillion to the federal government, states, and local government councils as March 2026 Federation Account Revenue.
A communique signed by the spokesperson of the Office of the Accountant General of the Federation, Bawa Mokwa, informed that the distribution made from a gross revenue of N2.364 trillion generated during the month, was shared at the April 2026 FAAC meeting held in Abuja
The N2.036 trillion total distributable revenue comprised distributable statutory revenue of N1.320 trillion, distributable Value Added Tax (VAT) revenue of N515.391 billion, and an augmentation of N200 billion.
Total deduction for cost of collection was N81.084 billion, while total transfers, refunds, and savings were N246.872 billion and agumentation of N200 billion.
According to the communiqué, gross statutory revenue of N1.699 trillion was received for the month of March 2026.
This was higher than the sum of N1.561 trillion received in the preceding month by N137.914 billion,” the statement signed by the Director (Press and Public Relations), Bawa Mokwa, partly read.
It further revealed that gross revenue of N664.425 billion was available from the Value Added Tax (VAT) in March 2026, lower than the N668.450 billion available in the month of February 2026 by N4.025 billion.
From the N2.036 trillion total distributable revenue (that is, the amount shared), the Federal Government received a total sum of N789.159 billion, and the state governments received a total sum of N657.596 billion.
“The local government councils received B468.826 billion, while the sum of N120.759 billion (13 per cent of mineral revenue) was shared with the benefiting state as derivation revenue,” the communique added.
On the N1.320 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N632.260 billion and the state governments received N320.691 billion.
It further indicated that the local government councils received N247.239 billion, and the sum of N120.759 billion (13 per cent of mineral revenue) was shared among the benefiting states as derivation revenue.
“From the N515.391 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N51.539 billion, the State Governments received N283.465 billion, and the local government councils received N180.387 billion.
“From the N200.000 augmentation, the Federal Government received N105.360 billion, while the state government received B53.440 billion, and the local government council received N41.200 billion.
“In March 2026, Companies Income Tax (CIT), CGT, SDT, and excise duty increased significantly while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty, Import Duty, and CET decreased considerably. Value Added Tax (VAT) decreased marginally,” the communique stated.
