The Federal Government, state governments and local government councils have shared N2.428 trillion in revenue generated by the Federation Account and Value Added Tax (VAT) in September 2026.
The allocation, announced by the Federation Account Allocation Committee (FAAC) in a communiqué issued after its meeting in Abuja, was N90 billion higher than the N2.338 trillion distributed in August.
The revenue shared comprised N1.672 trillion from statutory revenue and N756.587 billion from VAT proceeds.
FAAC said the total gross revenue for September amounted to N3.913 trillion, from which N131.758 billion was deducted as the cost of collection, while N1.352 trillion was set aside for transfers, refunds and savings.
Gross statutory revenue increased to N3.096 trillion during the month, compared with N2.850 trillion in August, representing a rise of N246.384 billion.
In contrast, gross VAT revenue dropped to N816.872 billion from N834.843 billion in the previous month, a decline of N17.972 billion.
Under the September allocation, the Federal Government received N832.242 billion, while state governments were allocated N799.872 billion. Local government councils received N560.660 billion, with eligible states sharing an additional N236.049 billion as the 13 per cent derivation fund from mineral resources.
A breakdown of the statutory revenue allocation showed that the Federal Government received N756.583 billion, state governments got N383.749 billion, and local government councils were allocated N295.855 billion. The benefiting states received N236.049 billion as derivation revenue.
From the VAT proceeds, the Federal Government received N75.659 billion, while state governments and local government councils got N416.123 billion and N264.805 billion, respectively.
The committee reported increased revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty.
However, receipts from Companies Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties, gas-flaring penalties and fees, and miscellaneous oil revenue recorded declines during the period under review.
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