FAAC Disburses N2.036trn March Revenue To FG, States, LGAs

The Federation Account Allocation Committee (FAAC) has disbursed a total sum of N2.036 trillion as federation account revenue for March 2026 to the federal government, states, and local government areas.

The disbursement was approved at the committee’s April 2026 meeting held in Abuja, according to a communiqué issued at the end of the session and released by the Office of the Accountant General of the Federation.

The communiqué showed that the total distributable revenue of N2.036 trillion comprised N1.320 trillion from statutory revenue, N515.391 billion from Value Added Tax (VAT), and an augmentation of N200 billion.

It showed a that total gross revenue available in March 2026 stood at N2.364 trillion. From this amount, N81.084 billion was deducted as cost of collection, while N246.872 billion was allocated for transfers, refunds, and savings.

A breakdown of revenue performance indicated that gross statutory revenue rose to N1.699 trillion in March 2026. This represents an increase of N137.914 billion compared to the N1.561 trillion recorded in February 2026.

VAT collections recorded a marginal decline. Gross VAT revenue for March stood at N664.425 billion, which was N4.025 billion lower than the N668.450 billion generated in the preceding month.

From the N2.036 trillion distributable pool, the Federal Government received N789.159 billion, while state governments got N657.596 billion.

Local government areas received N468.826 billion. Additionally, the sum of N120.759 billion, representing 13 per cent derivation revenue, was shared to oil-producing states.

Further analysis showed that from the N1.320 trillion statutory revenue, the Federal Government received N632.260 billion, states got N320.691 billion, and local governments received N247.239 billion.

The derivation component of N120.759 billion was also drawn from this segment.

From the N515.391 billion VAT revenue, the Federal Government received N51.539 billion, state governments received N283.465 billion, while local government councils got N180.387 billion.

She N200 billion augmentation was shared with the Federal Government receiving N105.360 billion, states N53.440 billion, and local governments N41.200 billion.

The communiqué also highlighted shifts in revenue sources during the month under review. It noted significant increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and Excise Duty.

On the downside, collections from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalties, import duty, and Common External Tariff (CET) declined considerably. VAT revenue also recorded a slight decrease.

FAAC, which meets monthly, is responsible for the disbursement of federally collected revenue to the three tiers of government in line with existing allocation frameworks.

The statement was signed by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant General of the Federation.