A total sum of N2.338 trillion being August 2026 Federation Account Revenue, has been shared to the three tiers of governments, the Federation Account Allocation Committee (FAAC) reported on Thursday.
A statement issued on the decisions taken during the committee’s September 2026 meeting held in Abuja by the Director (Press and Public Relations) of the Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, indicated that the N2.338 trillion total distributable revenue comprised statutory revenue of N1.565 trillion and Value Added Tax (VAT) revenue of N773.233 billion.
The communiqué issued by the FAAC) at the end of the meeting showed that total gross revenue of N3.685 trillion was available in the month of August 2026. Total deduction for cost of collection was N125.142 billion while total transfers, refunds and savings N1.221 trillion.
According to the communiqué, gross statutory revenue of N2.850 trillion was received for the month of August 2026. This was lower than the sum of N4.359 trillion received in the preceding month by N1.508 trillion.
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The committee disclosed that gross revenue of N834.843 billion was available from the Value Added Tax (VAT) in August 2026. This was higher than the N793.968 billion available in the month of July 2026 by N40.875 billion.
A further analysis of the communiqué’s figures showed that from the N2.338 trillion total distributable revenue, the Federal Government received total sum of N804.897 billion, the state governments shared N794.313 billion, N555.142 billion was distributed to the local governments, while some states shared the sum of N184.388 billion as 13% of minerals derivation revenue.
From the N1.565 billion distributable statutory revenue, the FAAC stated that the Federal Government received N727.573 billion, the state governments got N369.035 billion, N284.511 billion was distributed to the local governments while the sum of N184.388 billion (13% of mineral revenue) was shared among the benefiting states as derivation revenue.
The committee added that from the N773.233 billion distributable Value Added Tax (VAT) revenue, the Federal Government’s share was N77.323 billion compared to the state governments’ N425.278 billion and the local governments’ share of N270.632 billion.
The FAAC further reported that in the month under review, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Value Added Tax (VAT), CET Levies and Excise Duty significantly increased while Companies Income Tax (CIT), CGT, SDT, Petroleum Royalties, Mineral Royalties, and Gas Flared Penalty Import Duty, Rental Gas Flared Fee and Misc. Oil Revenue sharply decreased.
