The Federation Account Allocation Committee (FAAC) has shared N2.338 trillion in August 2026 revenue among the Federal Government, state governments and local government councils.
The development was disclosed on Thursday by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa.
The revenue was distributed at the September 2026 FAAC meeting held in Abuja.
Of the N2.338 trillion shared, N1.565 trillion came from distributable statutory revenue, while N773.233 billion was generated from Value Added Tax (VAT).
A total gross revenue of N3.685 trillion was available for distribution in August. However, N125.142 billion was deducted as the cost of collection, while N1.221 trillion was allocated to transfers, refunds and savings.
The gross statutory revenue stood at N2.850 trillion, representing a decrease of N1.508 trillion from the N4.359 trillion recorded in July.
In contrast, VAT revenue rose to N834.843 billion in August from N793.968 billion in July, representing an increase of N40.875 billion.
From the total distributable revenue, the Federal Government received N804.897 billion, states received N794.313 billion, while local government councils received N555.142 billion. Benefiting states also received N184.388 billion as 13 per cent derivation revenue from mineral resources.
For the N1.565 trillion statutory revenue, the Federal Government received N727.573 billion, states received N369.035 billion and local governments received N284.511 billion, with the N184.388 billion derivation revenue also shared with the benefiting states.
From the N773.233 billion VAT revenue, the Federal Government received N77.323 billion, state governments got N425.278 billion, while local government councils received N270.632 billion.
FAAC said Petroleum Profit Tax, Hydrocarbon Tax, VAT, Customs and Excise Tax levies recorded significant increases during the month, while Companies Income Tax, Capital Gains Tax, Stamp Duty, Petroleum Royalties, Mineral Royalties and several other oil-related revenues declined.
