FAAC: FG, States, LGAs Share ₦2.428 Trillion September 2026 Revenue as Statutory Allocation Rises
ABUJA, NIGERIA—The three tiers of the Nigerian government—the Federal Government, State Governments, and Local Government Councils—shared a total of ₦2.428 trillion from the September 2026 Federation Account revenue.
The distribution was finalized during the October meeting of the Federation Account Allocation Committee (FAAC) in Abuja, which was chaired by the Accountant-General of the Federation, Shamseldeen Ogunjimi.
The shared pool of ₦2.428 trillion comprised ₦1.672 trillion in statutory revenue and ₦756.587 billion generated from Value Added Tax (VAT).
According to a financial statement released by the Office of the Accountant-General of the Federation, the total gross revenue available for September stood at ₦3.913 trillion. Out of this gross sum, a total of ₦131.758 billion was deducted as the cost of collection by revenue-generating agencies, while another ₦1.352 trillion was accounted for as transfers, refunds, and strategic savings.
The month of September experienced contrasting revenue performances across various macroeconomic tax buckets, highlighting distinct shifts in the country’s revenue generation.
Gross statutory revenue rose sharply to ₦3.096 trillion, marking an increase of ₦246.384 billion compared to the ₦2.850 trillion recorded in August. Conversely, gross VAT revenue experienced a downward trend, declining to ₦816.872 billion from the previous month’s total of ₦834.843 billion.
Disbursed Allocations by Tier
The distributable funds were shared across the Federal, State, and Local tiers based on the statutory revenue-sharing formula.
September Naira allocation to the Federal Government amounted to ₦832.242 Billion, State Governments got ₦799.872 billion
while Local Government Councils got ₦560.660 billion.
Oil-producing states got ₦236.049 billion under the statutory 13% Derivation Fund.
An official communiqué issued by FAAC at the end of the meeting attributed the fluctuations to specific oil and non-oil revenue sectors. The federation recorded significant revenue increases from the Petroleum Profit Tax, Hydrocarbon Tax, Petroleum Royalties, Import Duty, Common External Tariff (CET) Levies, and Excise Duty. However, these gains were partially offset by revenue decreases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Value Added Tax (VAT), Mineral Royalties, and select gas-related revenue pipelines.
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