By Nchetachi Chukwuajah
The Federation Account Allocation Committee (FAAC) has shared a total of N2.036 trillion among the Federal Government, states, and the Local Government Councils as revenue for March 2026.
The total FAAC revenue shared in March 2026 reflects a N150 billion increase from the N1.89 trillion distributed in February 2026, buoyed by increased statutory inflows.
The Office of the Accountant General of the Federation disclosed this in a statement issued on Wednesday, April 22, and signed by its Director of Press and Public Relations, Bawa Mokwa.
Mokwa said, “A total sum of N2.036 trillion, being March 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils” at the April 2026 FAAC meeting held in Abuja.
The N2.036 trillion distributable revenue comprised N1.32 trillion from statutory revenue, N515.39 billion from Value Added Tax (VAT), and N200 billion as augmentation.
A breakdown showed that the Federal Government received N789.16 billion, representing about 38.8 percent of the total distributable revenue, while states got N657.60 billion, about 32.3 percent of the total pool.
On the other hand, local government councils received N468.8 billion, representing about 23.0 percent.
Oil-producing states received N120.76 billion as derivation, accounting for approximately 5.9 percent of the total distributable revenue.
The communiqué noted that “total gross revenue of N2.364 trillion was available in the month of March 2026,” from which N81.08 billion was deducted as cost of collection, while N246.87 billion was recorded as transfers, refunds, and savings.
The deductions and transfers together accounted for over 13 percent of gross inflows.
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From the statutory revenue component of N1.32 trillion, the Federal Government received N632.26 billion, states got N320.69 billion, and local governments received N247.24 billion, while N120.76 billion was shared as derivation.
The statement added that from the N515.39 billion VAT revenue, the federal government received N51.54 billion, states got N283.47 billion, and local governments received N180.39 billion.
From the N200 billion augmentation, the federal government received N105.36 billion, states got N53.44 billion, and local governments received N41.20 billion.
The communiqué stated that “gross statutory revenue of N1.699 trillion was received for the month of March 2026,” reflecting a N137.91 billion increase from the N1.56 trillion recorded in February.
However, VAT collections declined marginally. The statement noted that “gross revenue of N664.425 billion was available from the Value Added Tax in March 2026,” lower than the N668.450 billion recorded in February by N4.025 billion.
The statement added that Companies Income Tax, Capital Gains Tax, Stamp Duties, and Excise Duty increased significantly, pointing to improved non-oil tax performance.
In contrast, Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalty, import duty, and CET declined considerably, reflecting ongoing volatility in oil receipts and trade-related revenues, while VAT decreased marginally.
