The Federation Account Allocation Committee (FAAC) has distributed a total sum of N2.036 trillion among the Federal Government, States, and Local Government Councils (LGCs) for March revenue.
The allocation was finalised at the April FAAC meeting held in Abuja.
According to the communiqué, the total distributable revenue of N2.036 trillion was made up of statutory revenue of N1.320 trillion, Value Added Tax (VAT) of N515.391 billion, and an augmentation of N200 billion.
The Committee noted that total gross revenue of N2.364 trillion was available in March, with deductions of N81.084 billion for cost of collection, and N246.872 billion for transfers, refunds, and savings.
It added that statutory revenue rose to N1.699 trillion in March 2026, an increase of N137.914 billion compared to the previous month. However, VAT revenue slightly declined to N664.425 billion from N668.450 billion in February.
From the distributable revenue, the Federal Government received N789.159 billion, the States received N657.596 billion, while the Local Government Councils got N468.826 billion. Additionally, N120.759 billion (13 per cent derivation revenue) was shared among oil-producing states.
From the statutory revenue component, the Federal Government received N632.260 billion, States got N320.691 billion, and Local Governments received N247.239 billion, alongside the derivation allocation to benefiting states.
From VAT, the Federal Government received N51.539 billion, States got N283.465 billion, and Local Governments received N180.387 billion.
From the N200 billion augmentation, the Federal Government received N105.360 billion, States received N53.440 billion, and Local Governments got N41.200 billion.
FAAC also reported increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, and Excise Duties, while revenues from Petroleum Profit Tax (PPT), Hydrocarbon Tax, Oil and Gas Royalties, Import Duty, and CET declined during the period. VAT also recorded a marginal drop.
