By Mariam Abeeb
The Federation Account Allocation Committee has shared N2.428tn among the Federal Government, 36 states and 774 local government councils as revenue for September 2026.
The allocation, announced on Thursday in Abuja, comprised N1.672tn in statutory revenue and N756.587bn from Value Added Tax, according to a statement by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa.
The Federal Government received N832.242bn, while the 36 state governments got N799.872bn. The local government councils received N560.660bn.
The benefiting states also shared N236.049bn as 13 per cent derivation revenue from mineral resources.
The distribution followed the committee’s October meeting.
FAAC said the total gross revenue available for distribution in September stood at N3.913tn.
However, N131.758bn was deducted as the cost of collection, while N1.352tn went towards transfers, refunds and savings.
A breakdown of the statutory revenue showed that the Federal Government received N756.583bn, while the states got N383.749bn. The local government councils received N295.855bn.
From the N756.587bn generated through VAT, the Federal Government received N75.659bn, the states got N416.123bn, while the local councils received N264.805bn.
Meanwhile, gross statutory revenue rose to N3.096tn in September from N2.850tn recorded in August, representing an increase of N246.384bn.
Mokwa said the increase was driven by significant growth in Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty.
However, gross VAT revenue declined to N816.872bn in September from N834.843bn in August, a drop of N17.972bn.
Companies Income Tax, Capital Gains Tax, Stamp Duties, mineral royalties, gas-flaring penalties, gas-flaring fees and miscellaneous oil revenue also recorded declines.
The latest allocation comes after the 36 states received a combined N2.39tn from the Federation Account in the second quarter of 2026.
The figure represented a 12.2 per cent increase from the N2.13tn allocated to the states in the first quarter.
Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.
