FAAC Shares N2.338tn August Revenue Among FG, States, LGs

The Federal Government, state governments and local government councils have shared N2.338 trillion in revenue generated in August 2026.

The Federation Account Allocation Committee (FAAC) distributed the funds at its September 2026 meeting held in Abuja.

The development was disclosed on Thursday in a statement issued by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation.

The N2.338 trillion distributed to the three tiers of government consisted of N1.565 trillion in statutory revenue and N773.233 billion from Value Added Tax (VAT).

The statement said N3.685 trillion in gross revenue was available for distribution during the month under review. From the amount, N125.142 billion was deducted as the cost of collection, while N1.221 trillion was allocated to transfers, refunds and savings.

Statutory revenue generated during August stood at N2.850 trillion. The figure was lower than the N4.359 trillion recorded in July by N1.508 trillion.

In contrast, VAT revenue increased during the period. A total of N834.843 billion was generated from VAT in August, compared with N793.968 billion recorded in July, representing an increase of N40.875 billion.

From the total distributable revenue of N2.338 trillion, the Federal Government received N804.897 billion, while the state governments received N794.313 billion.

Local government councils received N555.142 billion. A further N184.388 billion, representing the 13 per cent derivation allocation from mineral revenue, was distributed to the benefiting states.

A breakdown of the statutory revenue showed that the Federal Government received N727.573 billion from the N1.565 trillion available under the category.

State governments received N369.035 billion, while local government councils received N284.511 billion. The benefiting states also received N184.388 billion as their 13 per cent derivation share.

From the N773.233 billion distributable VAT revenue, the Federal Government received N77.323 billion, while state governments received N425.278 billion.

Local government councils received N270.632 billion from the VAT allocation.

The FAAC statement also reported changes in revenue from various sources during August.

Petroleum Profit Tax, Hydrocarbon Tax, VAT, Customs and Excise-related revenues recorded increases during the period, while revenue from Companies Income Tax, Capital Gains Tax, Stamp Duty Tax, Petroleum Royalties, Mineral Royalties and other listed sources recorded declines.

The latest allocation provides another monthly revenue distribution to the three tiers of government as they continue to rely on Federation Account proceeds to fund their operations and public services.