March Revenue: FG N789.159 billion, states N657.596 billion, councils N468.826 billion

The Federation Account Allocation Committee (FAAC) shared $2.036 trillion between the federal government, states and local government councils (LGCs).

The revenue was shared at the FAAC’s April meeting in Abuja.

The total distributable revenue of N2.036 trillion comprised statutory revenue of N1.320 trillion, Value Added Tax (VAT) revenue of N515.391 billion and Agmentation of N200 billion.

A statement issued by the FAAC indicated that total gross receipts of N2.364 trillion were available in the month of March.

He said the total deduction for collection costs was N81.084 billion, while the total transfers, refunds and savings was N246.872 billion and the increase was N200 billion.

The statement said gross statutory revenue of N1.699 trillion was received for the month of March 2026.

This is higher than the sum of N1.561 trillion received in the previous month by N137.914 billion.

“As of March 2026, gross receipts of 664.425 billion naira from VAT were available.

“This was lower than the N668.450 billion available in the month of February 2026 by N4.025 billion,” he said.

The statement said that from the total distributable revenue of N2.036 trillion, the federal government received a total sum of N789.159 billion and state governments received a total sum of N657.596 billion.

The LGs are said to have received 468.826 billion naira, while the sum of 120.759 billion naira (13% of mining revenue) was shared with the beneficiary State as spin-off revenue.

“Out of the distributable statutory revenue of N1.320 trillion, the federal government received N632.260 billion and state governments received N320.691 billion.

“The LGs received 247.239 billion naira and the sum of 120.759 billion naira (13% of mining revenue) was shared with the beneficiary states as spin-off revenue,” he said.

He said that from the distributable VAT revenue of N515.391 billion, the federal government received N51.539 billion, state governments received N283.465 billion and LGs received N180.387 billion.

He said that from the increase of N200 billion, the federal government received N105,360, state governments received N53,440 billion and LGs received N41,200 billion.

Corporate income tax (CIT), CGT, SDT and excise duty increased significantly in March.

It said that petroleum profits tax (PPT), hydrocarbon tax (HT), oil and gas royalty, import duty and CET have decreased considerably, while VAT has decreased marginally.