FAAC Allocates N2.338 Trillion to Government Levels in 2026

At the September 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja, a total of N2.338 trillion was shared among the Federal Government, States, and Local Government Councils, based on the revenue for August 2026. The distributable revenue included N1.565 trillion from statutory revenue and N773.233 billion from Value Added Tax (VAT).

The total gross revenue available for August 2026 was N3.685 trillion, with deductions for cost of collection amounting to N125.142 billion and transfers, refunds, and savings totaling N1.221 trillion. The gross statutory revenue received was N2.850 trillion, which was N1.508 trillion lower than the previous month.

The Federal Government received N804.897 billion, State Governments received N794.313 billion, and Local Government Councils received N555.142 billion. Additionally, the communiqué indicated that various tax revenues showed significant changes, with increases in Petroleum Profit Tax, Hydrocarbon Tax, and VAT, while Companies Income Tax and other revenues decreased considerably.