The Federal Government, state governments, and local government councils have shared a total of ₦2.036 trillion as Federation Account revenue for March 2026.
Gatekeepers News reports that the distribution was finalised at the April 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja, according to a statement issued on Wednesday by the Office of the Accountant General of the Federation.
The total distributable revenue comprised ₦1.320 trillion from statutory revenue, ₦515.391 billion from Value Added Tax (VAT), and an augmentation of ₦200 billion.
According to the FAAC communiqué, total gross revenue available for March stood at ₦2.364 trillion. From this, ₦81.084 billion was deducted as cost of collection, while ₦246.872 billion was allocated for transfers, refunds, and savings.
The statement, signed by the Director of Press and Public Relations, Bawa Mokwa, noted:
“Gross statutory revenue of ₦1.699 trillion was received for the month of March 2026. This was higher than the sum of ₦1.561 trillion received in the preceding month by ₦137.914 billion.”
However, VAT collections declined slightly during the period.
“Gross revenue of ₦664.425 billion was available from the Value Added Tax (VAT) in March 2026, lower than the ₦668.450 billion available in the month of February 2026 by ₦4.025 billion.”
From the ₦2.036 trillion shared, the Federal Government received ₦789.159 billion, state governments got ₦657.596 billion, while local government councils received ₦468.826 billion.
In addition, ₦120.759 billion—representing 13 percent of mineral revenue—was allocated to oil-producing states as derivation revenue.
A breakdown of the statutory revenue shows that out of ₦1.320 trillion, the Federal Government received ₦632.260 billion, states received ₦320.691 billion, and local governments got ₦247.239 billion, while ₦120.759 billion was distributed as derivation funds.
From the ₦515.391 billion VAT pool, the Federal Government received ₦51.539 billion, states got ₦283.465 billion, and local governments received ₦180.387 billion.
Similarly, from the ₦200 billion augmentation, ₦105.360 billion went to the Federal Government, ₦53.440 billion to states, and ₦41.200 billion to local councils.
The communiqué also highlighted revenue trends for the month, noting increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and excise duties.
Conversely, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalties, import duties, and Common External Tariff (CET) revenues recorded significant declines, while VAT saw a marginal drop.
