STATES, LGs RAKE IN ₦1.36TRN AS FAAC SHARES ₦2.43TRN SEPTEMBER REVENUE

State governments and the 774 Local Government Councils across Nigeria received a combined ₦1.361 trillion from the Federation Account for September 2026, as federally distributable revenue remained above ₦2.4 trillion.

The Federation Account Allocation Committee, FAAC, shared a total of ₦2.428 trillion among the Federal Government, 36 states and 774 councils at its October meeting in Abuja.

Figures released by the Office of the Accountant-General of the Federation showed that states received ₦799.872 billion, while local governments got ₦560.660 billion.

The Federal Government received ₦832.242 billion, while an additional ₦236.049 billion representing 13 per cent derivation from mineral revenue went to oil and other mineral-producing states.

This means states and councils directly received more than 56 per cent of the ₦2.428 trillion distributable revenue, excluding the additional derivation funds paid to benefiting states.

Director of Press and Public Relations at the OAGF, Bawa Mokwa, said the distributable revenue comprised ₦1.672 trillion in statutory revenue and ₦756.587 billion from Value Added Tax, VAT.

The figures showed continued strength in government revenues, with total gross revenue for September reaching ₦3.913 trillion.

Gross statutory revenue rose to ₦3.096 trillion, an increase of ₦246.384 billion over the ₦2.850 trillion recorded in August.

VAT revenue, however, declined marginally, with ₦816.872 billion generated in September compared with ₦834.843 billion in August, a reduction of ₦17.972 billion.

From the ₦1.672 trillion distributable statutory revenue, the Federal Government received ₦756.583 billion, states received ₦383.749 billion, and local governments received ₦295.855 billion.

The ₦236.049 billion derivation allocation was also paid to benefiting states from the statutory revenue.

States and local governments took an even larger share of VAT proceeds.

Of the ₦756.587 billion distributable VAT revenue, the Federal Government received ₦75.659 billion, while states received ₦416.123 billion, and local governments received ₦264.805 billion.

FAAC said ₦131.758 billion was deducted as cost of collection, while transfers, refunds, and savings amounted to ₦1.352 trillion.

Revenue from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies, and excise duty recorded significant increases during September.

Companies Income Tax, Capital Gains Tax, and Stamp Duties, VAT, mineral royalties, gas-flaring penalties, and miscellaneous oil revenue, however, declined during the month.