The Federal Government, state governments and Local Government Councils have shared ₦2.428 trillion from a gross revenue of ₦3.913 trillion generated for September 2026.
The allocation was announced by the Federation Account Allocation Committee (FAAC) at its meeting held in October 2026 and chaired by the Accountant-General of the Federation, Shamsudeen B. Ogunjimi.
According to a statement issued by the Federal Ministry of Finance on Thursday, October 15, 2026, the allocation comprised statutory revenue and Value Added Tax (VAT).
The Federal Government received ₦832.242 billion, while the state governments got ₦799.872 billion. Local Government Councils received ₦560.660 billion, while oil-producing states were allocated ₦236.049 billion as their 13 per cent derivation revenue from mineral resources.
The committee also allocated ₦131.758 billion for the cost of revenue collection, while ₦1.353 trillion was set aside for transfers, refunds and savings.
A breakdown of the revenue showed that the gross VAT revenue for September stood at ₦816.872 billion, representing a decline of ₦17.972 billion compared with the ₦834.843 billion recorded in August.
Of the VAT revenue, ₦23.576 billion was deducted for collection costs, while ₦36.709 billion was allocated for transfers, refunds and savings.
The remaining ₦756.587 billion was distributed among the three tiers of government, with the Federal Government receiving ₦75.659 billion, states getting ₦416.123 billion and Local Government Councils receiving ₦264.805 billion.
In contrast, gross statutory revenue increased to ₦3.097 trillion in September from ₦2.850 trillion recorded in the preceding month, representing an increase of ₦246.384 billion.
From the statutory revenue, ₦106.182 billion was allocated for collection costs, while ₦1.316 trillion was set aside for transfers, refunds and savings.
The remaining distributable statutory revenue of approximately ₦1.672 trillion was shared among the three tiers of government and oil-producing states.
The Federal Government received ₦756.583 billion, while state governments got ₦383.749 billion. Local Government Councils received ₦295.855 billion, while oil-producing states received ₦236.049 billion as derivation revenue.
The committee attributed the revenue performance to mixed trends across various sources.
Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty recorded significant increases during the period.
However, Companies Income Tax, Stamp Duties Tax, Value Added Tax, mineral royalties, gas flaring penalties, rents, gas flaring fees and miscellaneous oil revenue recorded considerable declines.
The statement, signed by Francis Kusa, Chief Information Officer, Information and Public Relations, Federal Ministry of Finance, said the total distributable statutory revenue for September stood at ₦1.672 trillion, while VAT accounted for ₦756.587 billion.
The combined distributable revenue amounted to ₦2.428823 trillion, which was shared among the Federal Government, state governments and Local Government Councils.
The latest allocation highlights the increase in statutory revenue despite a decline in VAT receipts, reflecting varying performances across the Federation Account’s revenue sources.
