FAAC Shares N2.428trn to FG, States, LGs for September 2026

The Federation Account Allocation Committee (FAAC) has shared a total of *N2.428 trillion* among the Federal Government, 36 State Governments and 774 Local Government Councils as revenue for the month of September 2026.

The Director of Press and Public Relations at the Office of the Accountant-General of the Federation (OAGF), Mr. Bawa Mokwa, disclosed this in a statement on Thursday in Abuja after the October 2026 FAAC meeting chaired by the Accountant-General of the Federation, Shamsudeen B. Ogunjimi.

According to the communiqué, the N2.428 trillion distributable revenue comprised:
- *N1.672 trillion* - Distributable Statutory Revenue
- *N756.587 billion* - Distributable Value Added Tax (VAT) Revenue

*Gross Revenue Performance*

The Committee said total gross revenue of *N3.913 trillion* was available in September 2026. From this, N131.758 billion was deducted as cost of collection, while N1.352 trillion was allocated for transfers, refunds and savings.

Gross Statutory Revenue for September stood at *N3.096 trillion*, higher than the N2.850 trillion received in August by *N246.384 billion*, indicating improvement in oil and non-oil receipts.

However, VAT performance declined slightly. Gross VAT revenue was *N816.872 billion* in September, lower than the N834.843 billion recorded in August by *N17.972 billion*.

*How The Money Was Shared*

From the total distributable revenue of N2.428 trillion:
- *Federal Government:* N832.242 billion
- *State Governments:* N799.872 billion
- *Local Government Councils:* N560.660 billion
- *Derivation (13% mineral revenue to oil-producing states):* N236.049 billion

*Breakdown of Statutory Revenue (N1.672trn):*
- FG: N756.583 billion
- States: N383.749 billion
- LGCs: N295.855 billion
- Derivation: N236.049 billion

*Breakdown of VAT Revenue (N756.587bn):*
- FG: N75.659 billion
- States: N416.123 billion
- LGCs: N264.805 billion

FAAC attributed the increase in revenue to significant rises in Petroleum Profit Tax (PPT), Hydrocarbon Tax, Petroleum Royalties, Import Duty, Common External Tariff levies and Excise Duty, while Companies Income Tax, Capital Gains Tax, Stamp Duties and VAT recorded decreases.