The Federal Government, states and Local Government Councils shared ₦2.338 trillion in revenue from the August 2026 Federation Account.
The funds were distributed at the September meeting of the Federation Account Allocation Committee (FAAC), held in Abuja.
The ₦2.338 trillion distributable revenue comprised ₦1.565 trillion in statutory revenue and ₦773.233 billion from Value Added Tax (VAT).
According to the communiqué issued at the end of the meeting, a total gross revenue of ₦3.685 trillion was available for distribution for August. Of this amount, ₦125.142 billion was deducted as the cost of collection, while ₦1.221 trillion was allocated to transfers, refunds and savings.
The communiqué said gross statutory revenue fell to ₦2.850 trillion in August, down by ₦1.508 trillion from the ₦4.359 trillion recorded in July.
In contrast, gross VAT revenue rose to ₦834.843 billion in August from ₦793.968 billion in July, representing an increase of ₦40.875 billion.
Of the ₦2.338 trillion distributable revenue, the Federal Government received ₦804.897 billion, while the states received ₦794.313 billion.
Local Government Councils received ₦555.142 billion, while ₦184.388 billion, representing the 13 per cent derivation from mineral revenue, was distributed to benefiting states.
Statutory and VAT revenue
Of the ₦1.565 trillion in distributable statutory revenue, the Federal Government received ₦727.573 billion, while the states received ₦369.035 billion.
Local Government Councils received ₦284.511 billion, while ₦184.388 billion was distributed to benefiting states as derivation revenue.
From the ₦773.233 billion in distributable VAT revenue, the Federal Government received ₦77.323 billion, while the states received ₦425.278 billion. Local Government Councils received ₦270.632 billion.
The communiqué also reported significant increases in revenue from Petroleum Profit Tax, Hydrocarbon Tax, Value Added Tax, Customs Excise Tariff levies and Excise Duty in August.
However, revenue from Companies Income Tax, Capital Gains Tax, Stamp Duty, Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental Gas Flared Fee and Miscellaneous Oil Revenue recorded considerable declines.
