FAAC Allocates N2.428 Trillion to Governments in September

The Federation Account Allocation Committee (FAAC) disbursed N2.428 trillion to federal, state, and local governments during its October meeting in Abuja. This amount represents an increase of N90 billion compared to the N2.338 trillion allocated in August 2026.

The total federation revenue for September 2026 was N3.913 trillion. Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation, provided these details in a statement.

The federal government received N832.242 billion, state governments received N799.872 billion, and local government councils received N560.660 billion. Additionally, N236.049 billion was allocated to oil mineral producing states as 13 percent derivation revenue.

The total distributable revenue included N1.672 trillion in statutory revenue and N756.587 billion in Value Added Tax (VAT) revenue. Despite the gross revenue of N3.913 trillion, deductions for costs and transfers totaled N1.352 trillion.