Federation Account Allocation Committee (FAAC) don share N2.04tn for March as revenue rise by N150bn, as stronger statutory inflow boost allocation to Federal Government, states and local governments.
For statement wey Office of the Accountant General of the Federation release, FAAC confirm say total N2.036tn revenue was shared during April 2026 meeting for Abuja.
Breakdown of allocation
The distributable revenue include:
- N1.32tn from statutory revenue
- N515.39bn from Value Added Tax (VAT)
- N200bn as augmentation
From the total:
- Federal Government collect N789.16bn (38.8%)
- States receive N657.60bn (32.3%)
- Local governments get N468.83bn (23.0%)
- Oil-producing states collect N120.76bn as derivation (5.9%)
Revenue performance improve
FAAC report show say gross statutory revenue increase to N1.699tn for March, rising by about N137.91bn compared to February.
This improvement na the main reason why total allocation increase, even though VAT revenue drop small.
VAT slightly decline
VAT collection for March stand at N664.43bn, slightly lower than February figure by about N4bn.
Despite this, non-oil taxes like Companies Income Tax, Capital Gains Tax, Stamp Duties and Excise Duties show strong growth.
Oil revenue still unstable
The report also show say oil-related revenues like Petroleum Profit Tax, royalties and import duties decline, reflecting continued volatility in oil sector.
Deductions before sharing
Out of total gross revenue of N2.364tn:
- N81.08bn deducted as cost of collection
- N246.87bn used for transfers, refunds and savings
What it means
The latest FAAC sharing show say Nigeria revenue base dey gradually improve through non-oil taxes, but dependence on unstable oil income still dey affect monthly allocations.
Experts say government go need strengthen other revenue sources to maintain steady growth and support spending across all levels.
