FAAC Shares ₦2.43trn Among FG, States, LGs as September Revenue Hits ₦3.91trn

The Federation Account Allocation Committee (FAAC) has shared ₦2.428 trillion among the Federal Government, 36 state governments and 774 local government councils as revenue for September 2026.

The allocation was disclosed by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, in a statement issued on Thursday in Abuja following the committee’s October meeting.

The distributable revenue comprised ₦1.672 trillion from statutory revenue and ₦756.587 billion from Value Added Tax (VAT), according to the statement.

FAAC said total gross revenue available for distribution stood at ₦3.913 trillion during the period. However, ₦131.758 billion was deducted as the cost of collection, while ₦1.352 trillion went towards transfers, refunds and savings.

A breakdown of the allocation showed that the Federal Government received ₦832.242 billion, while the 36 state governments shared ₦799.872 billion. Local government councils received ₦560.660 billion, while oil-producing states received an additional ₦236.049 billion as their 13 per cent derivation revenue from mineral resources.

The committee disclosed that gross statutory revenue increased to ₦3.096 trillion in September, representing a rise of ₦246.384 billion compared with the ₦2.850 trillion recorded in August.

However, gross VAT revenue declined to ₦816.872 billion from ₦834.843 billion in the preceding month, representing a decrease of ₦17.972 billion.

Further details showed that revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty recorded significant increases. In contrast, receipts from Companies Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties, gas-flaring penalties, gas-flaring fees and miscellaneous oil revenue declined.

The September allocation comes as state and local governments continue to depend on monthly Federation Account distributions to finance public expenditure, including infrastructure, salaries and essential services. The latest figures highlight mixed performances across the country’s major revenue sources, with statutory revenue rising while VAT collections weakened.