The Federal Government, state governments and local government councils have shared a total of ₦2.428 trillion in revenue accrued to the Federation Account for September 2026.
A statement issued on Thursday by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation, said the revenue was shared at the October 2026 meeting of the Federation Account Allocation Committee (FAAC), held in Abuja.
The total distributable revenue comprised ₦1.672 trillion from statutory revenue and ₦756.587 billion from Value Added Tax (VAT).
According to the FAAC communiqué, the Federation generated gross revenue of ₦3.913 trillion in September 2026. However, ₦131.758 billion was deducted as the cost of collection, while ₦1.352 trillion went towards transfers, refunds and savings.
The communiqué stated that gross statutory revenue stood at ₦3.096 trillion in September, representing an increase of ₦246.384 billion compared with the ₦2.850 trillion recorded in August.
In contrast, gross VAT revenue declined to ₦816.872 billion in September from ₦834.843 billion in August, representing a decrease of ₦17.972 billion.
How the ₦2.428tn revenue was shared
Of the total distributable revenue of ₦2.428 trillion, the Federal Government received ₦832.242 billion, while state governments received ₦799.872 billion.
Local government councils received ₦560.660 billion, while ₦236.049 billion was allocated to benefiting states as 13 per cent derivation revenue from mineral resources.
A breakdown of the statutory revenue allocation showed that the Federal Government received ₦756.583 billion, while state governments received ₦383.749 billion.
Local government councils received ₦295.855 billion, with a further ₦236.049 billion shared among benefiting states as derivation revenue.
From the ₦756.587 billion distributable VAT revenue, the Federal Government received ₦75.659 billion, state governments received ₦416.123 billion, and local government councils received ₦264.805 billion.
Revenue performance across sectors
The FAAC communiqué also highlighted varying revenue performance across major tax and petroleum-related sources during September.
Receipts from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), petroleum royalties, import duty, Common External Tariff (CET) levies and excise duty recorded significant increases during the month.
However, revenue from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties Tax (SDT), VAT, mineral royalties, gas flaring penalties, rental gas flaring fees and miscellaneous oil revenue declined.
The September allocation reflects the latest monthly distribution of federally collected revenue among the three tiers of government and benefiting states.
