FAAC Allocates N2.428 Trillion to Federal, State, and Local Governments for September 2026

 

The Federation Account Allocation Committee has disbursed N2.428 trillion in revenue generated during September 2026 to the three tiers of government.

The allocation was finalised during the committee’s October 2026 meeting in Abuja, according to a Friday statement from Bawa Mokwa, spokesperson for the Office of the Accountant-General of the Federation.

The total distributable amount includes N1.672 trillion from statutory revenue and N756.587 billion from Value Added Tax receipts.

In September 2026, total gross collections reached N3.913 trillion. From this sum, N131.758 billion was allocated to cover collection costs, while transfers, refunds, and savings accounted for N1.352 trillion.

Gross statutory revenue rose to N3.096 trillion for the month, representing an increase of N246.384 billion over the N2.850 trillion recorded in August 2026. Conversely, gross VAT revenue dropped by N17.972 billion, sliding from N834.843 billion in August to N816.872 billion in September.

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From the overall distributable figure of N2.428 trillion, the Federal Government received N832.242 billion, state governments obtained N799.872 billion, and local government councils were allocated N560.660 billion. A further N236.049 billion, representing the 13 per cent derivation fund, was allocated to oil-producing states.

Looking specifically at the N1.672 trillion statutory portion, the Federal Government secured N756.583 billion, state governments took N383.749 billion, local governments gained N295.855 billion, and benefiting states received N236.049 billion in derivation revenue.

For the N756.587 billion VAT distribution, the Federal Government got N75.659 billion, state governments collected N416.123 billion, and local government councils received N264.805 billion.

The communique noted gains in Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, CET levies, and excise duty during September 2026. However, decreases were recorded in Companies Income Tax, Capital Gains Tax, Stamp Duties Tax, Value Added Tax, mineral royalties, gas-flaring penalties, rental gas-flaring fees, and miscellaneous oil revenue.