FAAC Reports 18.7% Revenue Growth in Q1 2026

The Federation Account Allocation Committee (FAAC) announced a significant revenue growth of 18.7% in the first quarter of 2026, amounting to N5.887 trillion, compared to N4.959 trillion in the same period of 2025, reflecting an increase of N928 billion. This growth trend is attributed to improved revenue generation across Nigeria's three tiers of government—federal, state, and local.

January 2026 saw a distribution of N1.957 trillion, marking a 14.9% increase from January 2025. February's distribution was N1.894 trillion, a 12.9% rise from the previous year, while March 2026 recorded the highest monthly distribution at N2.036 trillion, a staggering 29% increase year-on-year.

The growth was significantly influenced by a rise in statutory revenue, reaching N1.699 trillion, and a notable increase in VAT collections, which exceeded N1 trillion for the first time. Despite the revenue growth, there was a corresponding rise in the cost of revenue collection by agencies such as the Nigerian Revenue Service and the Nigerian Upstream Petroleum Regulatory Commission.