A total of N2.428 trillion, being the September 2026 Federation Account revenue, has been shared among the Federal Government, state governments and local government councils.
Spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa said in a statement on Thursday that the revenue was shared at the October 2026 Federation Account Allocation Committee, FAAC, meeting held in Abuja.
The N2.428 trillion total distributable revenue comprised N1.672 trillion in distributable statutory revenue and N756.587 billion in distributable Value Added Tax (VAT) revenue.
The statement indicated that total gross revenue of N3.913 trillion was available in September 2026. Total deductions for the cost of collection amounted to N131.758 billion, while transfers, refunds and savings totalled N1.352 trillion.
The communiqué said gross statutory revenue of N3.096 trillion was received in September 2026. This was higher than the N2.850 trillion received in the preceding month by N246.384 billion.
Gross revenue of N816.872 billion was generated from Value Added Tax (VAT) in September 2026. This was lower than the N834.843 billion recorded in August 2026 by N17.972 billion.
The communiqué stated that, from the N2.428 trillion total distributable revenue, the Federal Government received N832.242 billion, while the state governments received N799.872 billion.
The local government councils received N560.660 billion, while N236.049 billion, representing 13 per cent of mineral revenue, was shared among the benefiting states as derivation revenue.
Of the N1.672 trillion in distributable statutory revenue, the communiqué stated that the Federal Government received N756.583 billion, while the state governments received N383.749 billion.
The local government councils received N295.855 billion, while N236.049 billion, representing 13 per cent of mineral revenue, was shared among the benefiting states as derivation revenue.
From the N756.587 billion in distributable Value Added Tax (VAT) revenue, the Federal Government received N75.659 billion, the state governments received N416.123 billion, and the local government councils received N264.805 billion.
In September 2026, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), petroleum royalties, import duty, CET levies and excise duty recorded significant increases, while Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties Tax (SDT), Value Added Tax (VAT), mineral royalties, gas-flaring penalties, rental gas-flaring fees and miscellaneous oil revenue recorded considerable decreases.
