FAAC: FG, States, and LGCs Share N1.894 Trillion Revenue for February 2026
A total of N1.894 trillion, representing the Federation Account Revenue for February 2026, has been allocated to the Federal Government, states, and local government councils.
This revenue was distributed during the March 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The N1.894 trillion total distributable revenue included statutory revenue of N1.274 trillion and Value Added Tax (VAT) revenue of N619.119 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that the total gross revenue available for February 2026 was N2.230 trillion. Deducted from this were N77.302 billion for collection costs and N259.078 billion in transfers, refunds, and savings.
The communiqué also reported that gross statutory revenue for February 2026 was N1.561 trillion, which is N395.138 billion less than the N1.957 trillion received in the previous month.
Value Added Tax (VAT) revenue amounted to N668.450 billion in February 2026, down from N1.083 trillion in January 2026 by N414.710 billion.
Out of the N1.894 trillion total distributable revenue, the Federal Government received N675.088 billion, the State Governments received N651.525 billion, and the Local Government Councils received N456.467 billion. Additionally, N110.949 billion (13% of mineral revenue) was allocated as derivation revenue to benefiting states.
From the N1.274 trillion distributable statutory revenue, the Federal Government got N613.174 billion, while the State Governments received N311.010 billion.
The Local Government Councils received N239.776 billion, and N110.949 billion (13% of mineral revenue) was shared among the benefiting states as derivation revenue.
Regarding the N619.119 billion from Value Added Tax (VAT), the Federal Government received N61.912 billion, the State Governments received N340.515 billion, and the Local Government Councils received N216.692 billion.
In February 2026, revenues from Oil and Gas Royalty and Excise Duty increased significantly, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), CGT, SDT, and VAT decreased considerably.
Import Duty and CET experienced marginal increases.
