FAAC Allocates N2.036tn for March 2026 Revenue Distribution

The Federation Account Allocation Committee (FAAC) disbursed a total of N2.036 trillion from a gross federation revenue of N2.364 trillion for March 2026 during its monthly meeting in Abuja. The allocations were distributed among the three tiers of government, with the federal government receiving N789.159 billion, states receiving N657.596 billion, and local government councils receiving N468.826 billion.

Additionally, oil-producing states received N120.759 billion as part of the 13% derivation revenue. The total distribution comprised N1.320 trillion in statutory revenue and N515.391 billion from value-added tax (VAT), which saw an increase of N200 billion.

The communiqué issued by FAAC Chair and Minister of Finance, Taiwo Oyeleke, indicated that the gross statutory revenue for March 2026 stood at N1.699 trillion, an increase of N137.914 billion from February 2026. The gross VAT revenue for March was N664.425 billion, reflecting a decrease of N4.025 billion compared to the previous month.