A total of N1.894 trillion from the February 2026 Federation Account Revenue has been shared among the Federal Government, State Governments, and Local Government Councils (LGCs). The allocation was approved at the March 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The N1.894 trillion distributable revenue consisted of N1.274 trillion statutory revenue and N619.119 billion Value Added Tax (VAT) revenue. According to the FAAC communiqué, a total gross revenue of N2.230 trillion was available in February 2026. After deductions for collection costs (N77.302 billion) and transfers, refunds, and savings (N259.078 billion), the Federal Government received N675.088 billion, State Governments received N651.525 billion, Local Government Councils received N456.467 billion, and N110.949 billion was shared as derivation revenue to benefiting states.
The communiqué also indicated that from the statutory revenue of N1.274 trillion, the Federal Government received N613.174 billion, the State Governments received N311.010 billion, and the Local Governments received N239.776 billion, while derivation revenue of N110.949 billion went to the benefiting states. From the VAT revenue of N619.119 billion, the Federal Government received N61.912 billion, the State Governments received N340.515 billion, and the Local Governments received N216.692 billion.
FAAC further noted that while Oil and Gas Royalty and Excise Duty increased significantly, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), CGT, SDT, and VAT fell substantially compared to January 2026.
