FG Gets ₦832 Billion, States, LGs Share ₦1.36 Trillion As FAAC Releases Allocations

The Federal Government, state governments and local government councils have shared ₦2.428 trillion from the Federation Account and Value Added Tax (VAT) revenue for September 2026.

The amount is ₦90 billion higher than the ₦2.338 trillion shared in August, even as revenue from some taxes, including Company Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties and VAT, recorded a drop.

According to a communiqué released after the Federation Account Allocation Committee (FAAC) meeting in Abuja, the total amount shared included ₦1.672 trillion from statutory revenue and ₦756.587 billion from VAT.

The Federal Government received ₦832.242 billion, while state governments got ₦799.872 billion. Local government councils received ₦560.660 billion, Naija News understands.

The committee also shared ₦236.049 billion among states entitled to 13 per cent derivation revenue from mineral resources.

The communiqué showed that the Federal Government received ₦756.583 billion from statutory revenue, while state governments got ₦383.749 billion.

Local government councils received ₦295.855 billion, with ₦236.049 billion paid to benefiting states as derivation revenue.

From the VAT revenue, the Federal Government received ₦75.659 billion. State governments got ₦416.123 billion, while local government councils received ₦264.805 billion.

Government Revenue Increased, VAT Fell

FAAC disclosed that the total gross revenue generated in September stood at ₦3.913 trillion.

Out of this amount, ₦131.758 billion was deducted as the cost of collecting the revenue, while ₦1.352 trillion went into transfers, refunds and savings.

Gross statutory revenue rose to ₦3.096 trillion in September from ₦2.850 trillion in August. This represents an increase of ₦246.384 billion.

However, gross VAT revenue dropped to ₦816.872 billion from ₦834.843 billion recorded in August, representing a decrease of ₦17.972 billion.

FAAC said revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty increased significantly during the month.

However, collections from Company Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties, gas-flaring penalties and fees, as well as other oil revenue, declined.

Despite the fall in VAT and some other revenue sources, the increase in statutory revenue helped raise the total amount shared by the three tiers of government in September.