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The Nigerian Government, state governments and local government councils have shared N2.428 trillion in revenue generated in September 2026.
The Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement on Thursday following the October 2026 meeting of the Federation Account Allocation Committee (FAAC) in Abuja.
The total distributable revenue comprised N1.672 trillion from statutory revenue and N756.587 billion from Value Added Tax (VAT).
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According to the FAAC communiqué, total gross revenue of N3.913 trillion accrued to the federation account in September. The amount included N131.758 billion deducted as the cost of collection and N1.352 trillion in transfers, refunds and savings.
Gross statutory revenue stood at N3.096 trillion, an increase of N246.384 billion from the N2.850 trillion recorded in August.
However, gross VAT revenue declined to N816.872 billion in September from N834.843 billion in the preceding month, representing a decrease of N17.972 billion.
How the revenue was shared
From the N2.428 trillion total distributable revenue, the Federal Government received N832.242 billion, while state governments received N799.872 billion.
Local government councils received N560.660 billion, while N236.049 billion was allocated to benefiting states as derivation revenue, representing 13 per cent of mineral revenue.
The communiqué also provided a breakdown of the statutory revenue allocation.
From the N1.672 trillion distributable statutory revenue, the Nigerian Government received N756.583 billion, state governments received N383.749 billion, and local government councils received N295.855 billion. The benefiting states also received N236.049 billion as derivation revenue.
VAT revenue allocation
Of the N756.587 billion distributable VAT revenue, the Nigerian Government received N75.659 billion.
State governments received N416.123 billion, while local government councils received N264.805 billion.
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The communiqué further reported increases in revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty during September.
However, receipts from Companies Income Tax, Capital Gains Tax and Stamp Duties, VAT, mineral royalties, gas-flaring penalties, rental gas-flaring fees and miscellaneous oil revenue declined during the month.
The monthly FAAC allocation distributes revenue accruing to the federation account among the three tiers of government to support their respective financial obligations.
