The Federal Government, 36 states, and 774 local government councils have shared a total of ₦2.036 trillion as Federation Account revenue for March 2026.
The allocation was approved at the April 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja, according to a statement issued on Wednesday by the Office of the Accountant General of the Federation.
The ₦2.036 trillion distributable revenue comprised ₦1.320 trillion from statutory revenue, ₦515.391 billion from Value Added Tax (VAT), and an augmentation of ₦200 billion.
A communiqué from FAAC showed that total gross revenue available in March stood at ₦2.364 trillion. From this amount, ₦81.084 billion was deducted as cost of collection, while transfers, refunds, and savings accounted for ₦246.872 billion. An augmentation of ₦200 billion was also applied to boost distributable funds.
Gross statutory revenue for March was ₦1.699 trillion, representing an increase of ₦137.914 billion compared to the ₦1.561 trillion received in February 2026. VAT revenue, however, dipped slightly to ₦664.425 billion in March, down by ₦4.025 billion from the ₦668.450 billion recorded in February.
*Breakdown of Allocation*
From the ₦2.036 trillion shared, the Federal Government received ₦789.159 billion, state governments got ₦657.596 billion, and local government councils received ₦468.826 billion. In addition, ₦120.759 billion, representing 13 per cent of mineral revenue, was distributed to oil-producing states as derivation revenue.
For the ₦1.320 trillion distributable statutory revenue, the Federal Government took ₦632.260 billion, states received ₦320.691 billion, and local governments got ₦247.239 billion. The derivation component of ₦120.759 billion was again shared among benefiting states.
From the ₦515.391 billion VAT pool, the Federal Government received ₦51.539 billion, states got ₦283.465 billion, and local governments received ₦180.387 billion.
Of the ₦200 billion augmentation, the Federal Government was allocated ₦105.360 billion, states received ₦53.440 billion, and local governments got ₦41.200 billion.
*Revenue Performance*
The communiqué noted that Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), and excise duty recorded significant increases in March. In contrast, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty, Import Duty, and Common External Tariff (CET) declined considerably. VAT revenue saw a marginal decrease.
The March 2026 allocation marks one of the highest distributions in recent months, with the Office of the Accountant General stating that the funds are expected to support government operations and development projects across all tiers.
