FAAC Allocates N1.894 Trillion for February 2026

The Federation Account Allocation Committee (FAAC) announced the disbursement of N1.894 trillion to the Federal Government, states, and local governments for February 2026. This total distribution includes N1.274 trillion from statutory revenue and N619.119 billion from Value Added Tax (VAT).

The gross revenue available for February 2026 was reported at N2.230 trillion, with deductions for cost of collection amounting to N77.302 billion and a transfer refund of N259.078 billion. The gross statutory revenue received in February was N1.561 trillion, which is lower than the N1.957 trillion received in January 2026.

The distribution breakdown shows that the Federal Government received N675.088 billion, states received N651.525 billion, and local government councils received N456.467 billion. The VAT distribution allocated N61.912 billion to the Federal Government, N340.515 billion to states, and N216.692 billion to local councils.

The report also noted significant increases in oil and gas royalties and other taxes, while some import duties decreased.