The Federal Government, states and local government councils have shared a total of 2.428 trillion naira from the September 2026 Federation Account revenue.
The allocation was approved at the October meeting of the Federation Account Allocation Committee, FAAC, in Abuja, chaired by the Accountant-General of the Federation, Shamseldeen Ogunjimi.
The 2.428 trillion naira in distributable revenue comprised 1.672 trillion naira in statutory revenue and 756.587 billion naira from Value Added Tax, VAT.
The Office of the Accountant-General of the Federation says total gross revenue available for the month was 3.913 trillion naira, while 131.758 billion naira was deducted as the cost of collection, with 1.352 trillion naira accounted for as transfers, refunds and savings.
Gross statutory revenue rose to 3.096 trillion naira in September, up by 246.384 billion naira from the 2.850 trillion naira recorded in August.
However, gross VAT revenue declined to 816.872 billion naira from 834.843 billion naira in the previous month.
From the total distributable revenue, the Federal Government received 832.242 billion naira, states received 799.872 billion naira, while local government councils received 560.660 billion naira.
A further 236.049 billion naira, representing 13 per cent derivation from mineral revenue, was shared among benefiting states.
The communiqué also indicated that revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, CET levies and excise duty increased in September, while revenue from Companies Income Tax, Capital Gains Tax, VAT, mineral royalties and some gas-related sources declined.
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Editor: Ada Ononye
