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Federation Account Allocation Committee distributes ₦1.894 trillion February revenue to FG, states, LGs.
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Nigeria’s Federal Government receives ₦675.088bn, states ₦651.525bn, LGs ₦456.467bn.
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VAT and statutory revenue form bulk of funds shared at meeting in Abuja.
The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.894 trillion from the February 2026 federation account revenue among the Federal Government, state governments and local government councils in Nigeria.
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This was disclosed in a communiqué issued after the March FAAC meeting held in Abuja and signed by the spokesperson of the Office of the Accountant-General of the Federation, Bawa Mokwa.
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According to the statement, the total distributable revenue comprised ₦1.274 trillion from statutory revenue and ₦619.119 billion from Value Added Tax (VAT).
The committee noted that gross revenue available for February stood at ₦2.230 trillion, out of which ₦77.302 billion was deducted as cost of collection, while ₦259.078 billion was allocated for transfers, refunds and savings.
From the ₦1.894 trillion distributed, the Federal Government received ₦675.088 billion, while state governments received ₦651.525 billion.
Local government councils received ₦456.467 billion, while ₦110.949 billion, representing 13 per cent derivation revenue, was allocated to oil-producing states.
A breakdown of the ₦1.274 trillion statutory revenue showed that the Federal Government received ₦613.174 billion, states ₦311.010 billion, and local governments ₦239.776 billion, while ₦110.949 billion was distributed as derivation revenue.
From the ₦619.119 billion VAT revenue, the Federal Government received ₦61.912 billion, states ₦340.515 billion, and local governments ₦216.692 billion.
FAAC also disclosed that oil and gas royalties and excise duties recorded increases during the period, while petroleum profit tax, hydrocarbon tax, companies’ income tax, capital gains tax, stamp duties and VAT recorded declines.
The committee further noted that import duty and the Common External Tariff showed marginal increases during the month under review.