FAAC Allocates N2.58 Trillion to Government Tiers in 2026

At the September 2026 meeting of the Federation Account Allocation Committee (FAAC), chaired by the Accountant-General of the Federation, Mr. Shamseeldeen Ogunjimi, a total of N2.58 trillion was allocated to the three tiers of government for August 2026. The Federal Government received N804.897 billion, States received N794.313 billion, and Local Government Councils received N555.142 billion.

Additionally, N184.388 billion was shared as Derivation Revenue to oil-producing States, constituting 13 percent of mineral revenue. The Gross Revenue from Value Added Tax (VAT) for August 2026 was N834.843 billion, showing an increase from the previous month.

After deductions for the cost of collection, the remaining VAT revenue was distributed among the tiers of government. The Gross Statutory Revenue for August 2026 was N2.850 trillion, a decrease from the previous month, with allocations made after necessary deductions.

The communiqué indicated varied performance in revenue sources, with some taxes increasing while others decreased.