FG, States, LGCs Share N2.338trn August Revenue

The Federal Government, states and Local Government Councils have shared N2.338 trillion as Federation Account revenue for August 2026.

A statement by Bawa Mokwa, Director of Press and Public Relations, on Thursday, said the revenue was shared at the September 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The N2.338 trillion total distributable revenue comprised distributable statutory revenue of N1.565 trillion and distributable Value Added Tax (VAT) revenue of N773.233 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that a total gross revenue of N3.685 trillion was available in August 2026. Total deductions for the cost of collection stood at N125.142 billion, while total transfers, refunds and savings amounted to N1.221 trillion.

According to the communiqué, gross statutory revenue of N2.850 trillion was received in August 2026. This was lower than the N4.359 trillion received in the preceding month by N1.508 trillion.

Gross revenue of N834.843 billion was available from Value Added Tax (VAT) in August 2026. This was higher than the N793.968 billion available in July 2026 by N40.875 billion.

The communiqué stated that, from the N2.338 trillion total distributable revenue, the Federal Government received a total sum of N804.897 billion, while the state governments received N794.313 billion.

“The Local Government Councils received N555.142 billion, while N184.388 billion, representing 13 per cent of mineral revenue, was shared among the benefiting states as derivation revenue,” it stated.

On the N1.565 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N727.573 billion, while the state governments received N369.035 billion.

The Local Government Councils received N284.511 billion, while N184.388 billion, representing 13 per cent of mineral revenue, was shared among the benefiting states as derivation revenue.

From the N773.233 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N77.323 billion, the state governments received N425.278 billion, while the Local Government Councils received N270.632 billion, according to the statement.

It added; “In August 2026, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Value Added Tax (VAT), CET levies and Excise Duty increased significantly, while Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental Gas Flared Fee and Miscellaneous Oil Revenue decreased considerably.”