The Federation Account Allocation Committee (FAAC) has shared a total of N2.036 trillion among the Federal Government, states, and local government councils (LGCs) for March 2026, reflecting improved statutory revenue performance driven largely by stronger tax collections.
The allocation was approved at FAAC’s April 2026 meeting held in Abuja, according to a communiqué issued after the session.
The distributable revenue comprised N1.320 trillion from statutory sources, N515.391 billion from Value Added Tax (VAT), and a N200 billion augmentation. In total, gross revenue available for March stood at N2.364 trillion.
From the total distributable sum, the Federal Government received N789.159 billion, state governments got N657.596 billion, while local government councils received N468.826 billion.
An additional N120.759 billion, representing 13 per cent derivation revenue from mineral proceeds, was shared among eligible oil-producing states.
Breaking down the statutory revenue of N1.320 trillion, the Federal Government received N632.260 billion, states got N320.691 billion, and local governments received N247.239 billion, with the same N120.759 billion derivation component set aside for oil-producing states.
From the VAT pool of N515.391 billion, the Federal Government got N51.539 billion, states received N283.465 billion, while local councils received N180.387 billion.
The N200 billion augmentation was distributed as follows: the Federal Government received N105.360 billion, states N53.440 billion, and local governments N41.200 billion.
The communiqué noted that gross statutory revenue for March rose to N1.699 trillion, marking an increase of N137.914 billion compared to February’s figure of N1.561 trillion.
However, VAT collections recorded a slight decline, dropping from N668.450 billion in February to N664.425 billion in March, representing a marginal decrease of N4.025 billion.
FAAC also disclosed that N81.084 billion was deducted as cost of collection, while N246.872 billion was recorded as total transfers, refunds, and savings within the period.
On revenue performance trends, the committee stated that Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, and Excise Duties recorded notable increases during the month.
Conversely, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalties, import duty, and the Common External Tariff (CET) declined significantly, while VAT saw only a slight dip.
The latest disbursement comes amid ongoing fiscal pressures on subnational governments, with allocations from the federation account remaining a critical source of funding for recurrent and capital expenditure across states and local councils.
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