The Federation Account Allocation Committee has disbursed a total of N2.036 trillion as federation account revenue for March 2026 to the Federal Government, states, and local government areas.
The allocation was approved at the committee’s April meeting held in Abuja, according to a communiqué issued by the Office of the Accountant General of the Federation.
The distributable revenue comprised N1.320 trillion from statutory revenue, N515.391 billion from Value Added Tax (VAT), and an additional N200 billion as augmentation.
Data from the communiqué showed that total gross revenue available for March stood at N2.364 trillion. From this amount, N81.084 billion was deducted as cost of collection, while N246.872 billion was set aside for transfers, refunds, and savings.
A breakdown of the disbursement revealed that the Federal Government received N789.159 billion, state governments got N657.596 billion, while local government councils were allocated N468.826 billion.
In addition, N120.759 billion, representing 13 per cent derivation revenue, was distributed to oil-producing states.
Further analysis showed that from the N1.320 trillion statutory revenue, the Federal Government received N632.260 billion, states got N320.691 billion, and local governments received N247.239 billion.
From the VAT component of N515.391 billion, the Federal Government received N51.539 billion, states received N283.465 billion, while local governments got N180.387 billion.
The N200 billion augmentation was also shared, with the Federal Government receiving N105.360 billion, states N53.440 billion, and local governments N41.200 billion.
On revenue performance, gross statutory revenue increased to N1.699 trillion in March, reflecting a rise of N137.914 billion compared to February figures.
However, VAT collections recorded a slight decline, dropping to N664.425 billion from N668.450 billion in the previous month.
The communiqué also highlighted improvements in revenue streams such as Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, and Excise Duty.
Conversely, earnings from Petroleum Profit Tax (PPT), Hydrocarbon Tax, oil and gas royalties, import duties, and Common External Tariff declined during the period under review.
FAAC, which meets monthly, is responsible for distributing federally collected revenue among the three tiers of government based on existing allocation frameworks.
