FG, States, LGs Share N2.43trn September Federation Revenue
Oru Leonard
The Federal Government, state governments and Local Government Councils have shared N2.428 trillion as Federation Account revenue for September 2026, out of a gross revenue of N3.913 trillion.
The Federation Account Allocation Committee (FAAC) announced the allocation at its October meeting, chaired by the Accountant-General of the Federation, Shamsudeen B. Ogunjimi.
According to a statement signed by Francis Kusa, Chief Information Officer on Thursday, October 15, 2026, the allocation comprised revenue from Gross Statutory Revenue and Value Added Tax (VAT).
The Federal Government received N832.242 billion, while the states got N799.872 billion. Local Government Councils received N560.660 billion, while oil-producing states were allocated N236.049 billion as the 13 per cent derivation revenue.
The committee also allocated N131.758 billion for the cost of revenue collection, while N1.353 trillion was set aside for transfers, refunds and savings.
VAT Revenue Declines by N17.972bn
The FAAC communiqué indicated that gross VAT revenue for September stood at N816.872 billion, compared with N834.843 billion shared in the preceding month, representing a decline of N17.972 billion.
Of the September VAT revenue, N23.576 billion was deducted for the cost of collection, while N36.709 billion was earmarked for transfers, refunds and savings.
The remaining N756.587 billion was distributed among the three tiers of government.
The Federal Government received N75.659 billion, state governments got N416.123 billion, while Local Government Councils received N264.805 billion.
In contrast to the decline in VAT revenue, Gross Statutory Revenue increased to N3.097 trillion in September from N2.850 trillion recorded in the preceding month, representing an increase of N246.384 billion.
From the statutory revenue, N106.182 billion was allocated for the cost of collection, while N1.316 trillion was set aside for transfers, refunds and savings.
The remaining distributable balance of N1.672 trillion was shared among the beneficiaries.
The Federal Government received N756.583 billion, state governments got N383.749 billion, while Local Government Councils received N295.855 billion. Oil-producing states received N236.049 billion as their 13 per cent derivation allocation.
The communiqué further revealed mixed performances across the major revenue sources during the period under review.
Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty recorded significant increases.
However, Companies Income Tax, Stamp Duties Tax, Value Added Tax, mineral royalties, gas-flaring penalties, rental income, gas-flaring fees and miscellaneous oil revenue recorded considerable declines.
The committee stated that the total distributable revenue comprised N1.672 trillion from statutory revenue and N756.587 billion from VAT, bringing the overall allocation to approximately N2.429 trillion.
