FAAC Allocates N1.894 Trillion Revenue for February 2026

The Federation Account Allocation Committee (FAAC) announced the distribution of N1.894 trillion in revenue for February 2026 during a meeting held in Abuja. The total revenue included N1.274 trillion in statutory revenue and N619.119 billion in value-added tax (VAT).

The gross revenue available for February was N2.230 trillion, with N77.302 billion deducted for cost collection and N259.078 billion recorded as transfer refunds. Compared to January 2026, the gross statutory revenue decreased by N395.138 billion, while VAT revenue also dropped by N414.710 billion.

The federal government received N675.088 billion, state governments received N651.525 billion, and local government councils received N456.467 billion. Additionally, N110.949 billion, representing 13 percent of derivation revenue from mineral resources, was distributed among eligible states.

The report noted a significant increase in revenue from oil and gas royalties and excise duties, while receipts from petroleum profit tax, hydrocarbon tax, and other taxes declined during the period.