The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.428 trillion among the Federal Government, the 36 states and the 774 Local Government Councils as federation revenue for September 2026.
The Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement issued on Thursday in Abuja following FAAC’s October meeting.
According to the communiqué, the ₦2.428 trillion distributable revenue comprised ₦1.672 trillion in statutory revenue and ₦756.587 billion in Value Added Tax revenue.
FAAC said total gross revenue of ₦3.913 trillion was available in September, while ₦131.758 billion was deducted as cost of collection and ₦1.352 trillion went to transfers, refunds and savings.
Gross statutory revenue for September stood at ₦3.096 trillion, an increase of ₦246.384 billion from the ₦2.850 trillion recorded in August.
VAT revenue, however, declined during the period. A total of ₦816.872 billion was generated from VAT in September, representing a decrease of ₦17.972 billion from the ₦834.843 billion available in August.
From the total distributable revenue of ₦2.428 trillion, the Federal Government received ₦832.242 billion, while the 36 state governments received ₦799.872 billion.
The 774 Local Government Councils received ₦560.660 billion, while ₦236.049 billion, representing 13 per cent of mineral revenue, was distributed to eligible states as derivation revenue.
Of the ₦1.672 trillion distributable statutory revenue, the Federal Government received ₦756.583 billion, the states received ₦383.749 billion and the Local Government Councils received ₦295.855 billion.
Another ₦236.049 billion was distributed to benefiting states as 13 per cent derivation revenue.
From the ₦756.587 billion distributable VAT revenue, the Federal Government received ₦75.659 billion, the state governments received ₦416.123 billion, while the Local Government Councils received ₦264.805 billion.
FAAC further disclosed that revenue from Petroleum Profit Tax, Hydrocarbon Tax, Petroleum Royalties, Import Duty, Common External Tariff levies and Excise Duty increased during the month.
However, revenue from Companies Income Tax, Capital Gains Tax and Stamp Duties, VAT, Mineral Royalties, Gas Flared Penalty, Rental Gas Flared Fee and miscellaneous oil revenue declined.
The ₦2.428 trillion allocation represents the amount available for distribution after deductions, transfers, refunds and savings from the ₦3.913 trillion gross revenue recorded for September.
Post Title: “₦2.428 Trillion Was Shared Among FG, States And LGs” — FAAC Says September Gross Revenue Hit ₦3.913tn By Naijaonpoint.