Revenue shared among the Federal Government, States and Local Government Councils in February declined by five hundred and an twenty four billion , as s total of N1.894 trillion was distributed from the Federation Account, lower than the N2.418 trillion shared in January 2026.
The details were announced at the March meeting of the Federation Account Allocation Committee, FAAC, in Abuja.
According to a communiqué issued after the meeting, the N1.894 trillion distributable revenue comprised N1.274 trillion from statutory revenue and N619.119 billion from Value Added Tax.
From the total allocation, the Federal Government received N675.088 billion, State Governments received N651.525 billion, while Local Government Councils got N456.467 billion.
In addition, N110.949 billion, representing 13 percent derivation, was shared to oil-producing states.
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Gross statutory revenue for February stood at N1.561 trillion, which was N395 billion lower than the N1.957 trillion recorded in January.
Value Added Tax collections also fell significantly, declining from N1.083 trillion in January to N668.450 billion in February.
Despite the overall decline, Oil and Gas Royalty and Excise Duty recorded significant increases, while Import Duty and the Common External Tariff rose slightly.
However, collections from Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Stamp Duties and VAT dropped substantially, contributing to the lower distributable revenue.
The Federation Account Allocation remains the main source of monthly funding for the three tiers of government, supporting public spending across the country.
(Editor: Roluke Ogundele)
