The Federation Account Allocation Committee has shared ₦1.894 trillion among the federal, state, and local governments as the Federation Allocation for February 2026, with Value Added Tax revenue dropping to ₦668.45 billion.
The development was disclosed in a statement issued by Bawa Mokwa.
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According to the statement, the revenue sharing was approved during the March 2026 FAAC meeting held in Abuja.
The total distributable revenue of ₦1.894 trillion consisted of:
• ₦1.274 trillion from distributable statutory revenue
• ₦619.119 billion from Value Added Tax
The communiqué also revealed that gross revenue of ₦2.230 trillion was available in February 2026.
From this amount:
• ₦77.302 billion was deducted as cost of collection
• ₦259.078 billion was allocated to transfers, refunds, and savings
The committee reported that gross statutory revenue for February stood at ₦1.561 trillion, representing a decrease of ₦395.138 billion compared to the ₦1.957 trillion recorded in January 2026.
Similarly, gross VAT revenue dropped significantly to ₦668.450 billion, which was ₦414.710 billion lower than the ₦1.083 trillion recorded in January.
From the ₦1.894 trillion distributable revenue:
• The Federal Government of Nigeria received ₦675.088 billion
• State governments received ₦651.525 billion
• Local government councils received ₦456.467 billion
In addition, ₦110.949 billion, representing 13% derivation revenue from mineral resources, was distributed to benefiting states.