FAAC Allocates N2.26 Trillion for April 2026

The Federal Account Allocation Committee (FAAC) allocated N2.26 trillion among federal, state, and local governments for April 2026, representing an increase of N217 billion from the N2.04 trillion distributed in March 2026. This allocation, which reflects a 10.6% increase, was detailed in a statement issued by Bawa Mokwa, Director of Press and Public Relations at the Federal Account.

The total gross revenue available in April stood at N3.184 trillion, with N113.756 billion deducted for cost of collection. The FAAC reported that statutory revenue rose to N2.378 trillion in April from N1.699 trillion in March, showing an increase of N678.224 billion.

The rise in revenue was attributed to improved collections from various tax sources, including corporate income tax, VAT, and oil and gas royalties, despite a decline in petroleum-related taxes. The distribution showed that the federal government received N787.351 billion, state governments received N772.360 billion, and local government councils received N540.152 billion.