The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.894 trillion as revenue generated in February 2026 among the Federal Government, state governments and the 774 local government councils.
The allocation was announced at the March 2026 FAAC meeting in Abuja, according to a communiqué issued by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa.
The communiqué stated that the distributable revenue comprised ₦1.274 trillion from statutory revenue and ₦619.119 billion from Value Added Tax (VAT).
It added that gross revenue available in February stood at ₦2.230 trillion before deductions were made.
From this amount, ₦77.302 billion was deducted as cost of collection, while ₦259.078 billion was set aside for transfers, refunds and savings.
From the total distributable amount, the Federal Government received ₦675.088 billion, the 36 states shared ₦651.525 billion, while the 774 local government councils received ₦456.467 billion.
In addition, ₦110.949 billion representing 13 per cent derivation revenue from mineral resources was distributed among oil-producing states.
Further breakdown showed that from the ₦1.274 trillion statutory revenue, the Federal Government received ₦613.174 billion, states got ₦311.010 billion, and local governments received ₦239.776 billion.
From the ₦619.119 billion VAT revenue, the Federal Government received ₦61.912 billion, states received ₦340.515 billion, while local governments got ₦216.692 billion.
The committee also noted that gross statutory revenue declined to ₦1.561 trillion in February from ₦1.957 trillion recorded in January, while VAT revenue fell to ₦668.450 billion from ₦1.083 trillion in the previous month.
