FAAC Allocates N2.34 Trillion in September 2026 Amid Revenue Drop

At the September meeting of the Federation Account Allocation Committee held in Abuja, a total of N2.338 trillion was shared among the Federal Government, states, and local government councils, reflecting a 22.2% decrease from the N3.007 trillion allocated in August 2026. This decline of N669 billion was due to a sharp drop in statutory revenue, which fell by N1.508 trillion, or 34.6%, from N4.359 trillion in July to N2.850 trillion in August.

Despite this decline, Value Added Tax collections increased by N40.88 billion, reaching N834.843 billion in August, a 5.1% rise from July. After deductions for costs and transfers, the distributable amounts included N1.565 trillion in statutory revenue and N773.233 billion in VAT.

The Federal Government received N804.897 billion, while the 36 states and 774 local government councils received N794.313 billion and N555.142 billion, respectively.