FAAC Shares N1.894 trillion February 2026 Revenue to FG, States, LGs – THIS FACILITY

The Federation Allocation Accounts Committee (FAAC) has shared a total sum of N1.894 trillion to the Federal Government, States and Local Government Councils as February 2026 Federation Account Revenue.

A statement signed by the spokesperson of the Office of the Accountant General of the Federation, Bawa Mokwa, informed that the distribution made from a gross income of N2.230 trillion generated during the month, was shared at the March 2026 FAAC meeting, held in Abuja.

The distributable revenue of N1.894 trillion comprised N1.274 trillion of statutory distributable revenue and N619.119 billion from value added tax (VAT).

The statement indicated that total gross receipts of N2.230 trillion were available as of February 2026. From this amount, N77.302 billion was deducted as collection cost, while N259.078 billion was recorded

From the shared amount, the federal government received $675.086 billion, the 36 states received $651.525 billion, while the 774 local government councils received $456.467 billion. Oil-producing states also received an additional $110.949 billion in derivative revenues, representing 13% of mineral revenues.

The statement further revealed that N77.302 billion was paid to revenue generating agencies as collection cost, while N259.078 billion was allocated for transfers, interventions and reimbursements.

The ministry explained that the gross value added tax (VAT) receipts for February amounted to N668.450 billion, compared to N1.083 trillion distributed in the previous month, indicating a decline of N414.710 billion.

From the VAT revenue, 26.738 billion naira was deducted as collection costs, while 22.593 billion naira was set aside for transfers, interventions and refunds.

The remaining N619.119 billion was shared between the three levels of government, with the federal government receiving N61.912 billion, states N340.515 billion and local government councils N216.692 billion.

Similarly, gross statutory receipts of N1.561 trillion recorded in February were lower than the N1.957 trillion received in the previous month, a decrease of N395.138 billion.

From the statutory revenue, 50.564 billion naira was deducted as collection cost, while 236.485 billion naira was allocated for transfers, interventions and reimbursements.

The balance of N1.274 trillion was distributed as follows: the federal government received N613.174 billion, states received N311.010 billion and local governments received N239.776 billion, while N110.949 billion was allocated as spin-off revenue to oil-producing states.

The statement notes that revenues from oil and gas royalties and excise taxes saw significant increases during the period. It added that collections of petroleum profits tax (PPT), hydrocarbon tax (HT), corporate income tax (CIT), capital gains tax (CGT), stamp duty (SDT) and value added tax (VAT) declined substantially during the month under review.

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