A total of ₦2.036 trillion generated as Federation Account revenue for March 2026 has been distributed among the Federal Government, state governments, and local government councils.
The revenue was shared during the April 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja, according to a statement issued on Wednesday by the Office of the Accountant General of the Federation.
The total distributable revenue comprised ₦1.320 trillion from statutory revenue, ₦515.391 billion from Value Added Tax (VAT), and an augmentation of ₦200 billion.
A communiqué from FAAC indicated that a total gross revenue of ₦2.364 trillion was available in March 2026. From this amount, ₦81.084 billion was deducted as cost of collection, while ₦246.872 billion was recorded as total transfers, refunds, and savings.
The statement, signed by the Director of Press and Public Relations, Bawa Mokwa, noted that gross statutory revenue for the month stood at ₦1.699 trillion, representing an increase of ₦137.914 billion compared to the ₦1.561 trillion recorded in February 2026.
However, gross VAT revenue declined slightly to ₦664.425 billion in March from ₦668.450 billion in February, indicating a decrease of ₦4.025 billion.
From the total distributable revenue of ₦2.036 trillion, the Federal Government received ₦789.159 billion, state governments got ₦657.596 billion, while local government councils received ₦468.826 billion. Additionally, ₦120.759 billion, representing 13 per cent of mineral revenue, was allocated to oil-producing states as derivation.
A breakdown of the ₦1.320 trillion statutory revenue showed that the Federal Government received ₦632.260 billion, states received ₦320.691 billion, and local governments got ₦247.239 billion, with ₦120.759 billion distributed as derivation revenue.
From the ₦515.391 billion VAT pool, the Federal Government received ₦51.539 billion, states got ₦283.465 billion, and local governments received ₦180.387 billion.
Similarly, from the ₦200 billion augmentation, the Federal Government received ₦105.360 billion, states got ₦53.440 billion, and local governments received ₦41.200 billion.
The communiqué further noted increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and excise duties during the month, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalty, import duty, and Common External Tariff (CET) recorded significant declines. Value Added Tax (VAT) also recorded a marginal drop.
