By Mariam Abeeb
The Federation Account Allocation Committee (FAAC) has shared a total of N2.036 trillion among the three tiers of government as federation allocation for March 2026, from a gross revenue of N2.364 trillion.
According to a statement issued after its April 2026 meeting, the FAAC said the Federal Government received N789.159 billion, states got N657.596 billion, while Local Government Councils (LGCs) received N468.826 billion.
The statement, signed by the Head of Information and Public Relations, Efe Ovuakporie, noted that oil-producing states also received N120.759 billion as 13 per cent derivation revenue.
A breakdown showed that the total distributable revenue comprised N1.320 trillion from statutory revenue, N515.391 billion from Value Added Tax (VAT), and N200 billion augmentation.
From the statutory revenue, the Federal Government received N632.260 billion, states got N320.691 billion, while LGCs received N247.239 billion. The sum of N120.759 billion was allocated as derivation revenue.
From the VAT pool of N515.391 billion, the Federal Government received N51.539 billion, states got N283.465 billion, and LGCs received N180.387 billion.
Similarly, the N200 billion augmentation was shared with the Federal Government receiving N105.360 billion, states N53.440 billion, and LGCs N41.200 billion.
The communiqué further revealed that gross statutory revenue for March stood at N1.699 trillion, up by N137.914 billion from N1.561 trillion recorded in February.
Gross VAT revenue, however, dipped slightly to N664.425 billion, representing a decrease of N4.025 billion compared to N668.450 billion in the previous month.
From the total revenue, N81.084 billion was deducted as cost of collection, while N246.872 billion was earmarked for transfers, refunds, and savings.
On revenue performance, Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, and Excise Duties recorded increases, while Petroleum Profit Tax (PPT), Hydrocarbon Tax, Oil and Gas Royalties, Import Duty, and Common External Tariff (CET) declined. VAT receipts also recorded a marginal drop.
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