By Press Release

 

A total sum of N2.036 trillion, being the March 2026 Federation Account Revenue, has been shared among the Federal Government, States, and Local Government Councils.

The revenue was shared at the April 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

The N2.036 trillion total distributable revenue comprised distributable statutory revenue of N1.320 trillion, distributable Value Added Tax (VAT) revenue of N515.391 billion and augmentation of N200 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that the total gross revenue of N2.364 trillion was available in March 2026.

Total deduction for the cost of collection was N81.084 billion, while total transfers, refunds, and savings were N246.872 billion, with an augmentation of N200 billion.

According to the communiqué, gross statutory revenue of N1.699 trillion was received in March 2026. This was higher than the sum of N1.561 trillion received in the preceding month by N137.914 billion.

Gross revenue of N664.425 billion was available from the Value Added Tax (VAT) in March 2026. This was lower than the N668.450 billion available in February 2026 by N4.025 billion.

The communiqué stated that from the N2.036 trillion total distributable revenue, the Federal Government received a total sum of N789.159 billion, and the State Governments received a total sum of N657.596 billion.

The Local government Council received N468.826 billion, while N120.759 billion (13 per cent of mineral revenue) was shared with the benefiting State as derivation revenue.

On the N1.320 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N632.260 billion and the State Governments received N320.691 billion.

The Local Government Councils received N247.239 billion, and N120.759 billion (13% of mineral revenue) was shared among the benefiting States as derivation revenue.

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From the N515.391 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N51.539 billion, the State Governments received N283.465 billion, and the Local Government Councils received N180.387 billion.

From the N200.000 augmentation, the Federal Government received N105.360 billion, while the State Government received N53.440 billion, and the Local Government Council received N41.200 billion.

In March 2026, Companies Income Tax (CIT), CGT, SDT and Excise Duty increased significantly while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty, Import Duty and CET decreased considerably. Value Added Tax (VAT) decreased marginally.

Bawa Mokwa
Director (Press and Public Relations)