FAAC Shares ₦2.338trn Among FG, States, LGs as August Revenue Hits ₦3.685trn
By Pan Afric Reporters
The Federation Account Allocation Committee (FAAC) has shared ₦2.338 trillion among the Federal Government, states and Local Government Councils (LGCs) as distributable revenue for August 2026, from a gross revenue of ₦3.685 trillion generated during the period.
The figures were contained in a statement issued by Efe Ovuakporie, Head, Information and Public Relations, Federal Ministry of Finance, on Thursday, September 17, 2026, following the September 2026 FAAC meeting chaired by the Accountant-General of the Federation, Mr Shamseeldeen Ogunjimi.
According to the statement, the Federal Government received ₦804.897 billion, the states ₦794.313 billion, while the Local Government Councils received ₦555.142 billion from the distributable amount. An additional ₦184.388 billion was shared as derivation revenue to oil-producing states, representing the constitutionally prescribed 13 per cent of mineral revenue.
The committee also reported that ₦125.142 billion was deducted as cost of collection, while ₦1.221 trillion was allocated for transfers, interventions and refunds.
The VAT component of the revenue pool recorded an increase during the period under review, with gross Value Added Tax revenue rising to ₦834.843 billion in August from ₦793.968 billion distributed in the preceding month, representing an increase of ₦40.875 billion.
From the VAT pool, ₦100.545 billion was deducted for the cost of collection, while ₦1.184 trillion was allocated for transfers, interventions and refunds.
The remaining ₦733.233 billion was distributed among the three tiers of government, with the Federal Government receiving ₦77.323 billion, states ₦425.278 billion and Local Government Councils ₦270.632 billion.
However, Gross Statutory Revenue declined sharply in August, standing at ₦2.850 trillion compared with ₦4.359 trillion in the preceding month, representing a decrease of ₦1.509 trillion.
After deductions of ₦24.597 billion for the cost of collection and ₦37.014 billion for transfers, interventions and refunds, ₦1.565 trillion from statutory revenue was distributed to the three tiers of government.
Of the amount, the Federal Government received ₦727.573 billion, states received ₦369.035 billion, while Local Government Councils received ₦284.511 billion. The mineral-producing states also received ₦184.388 billion as derivation revenue.
The FAAC communiqué further showed mixed revenue performance across major revenue sources during the period. Receipts from Petroleum Profit Tax, Hydrocarbon Tax, VAT, Customs and Excise Duties levies and Excise Duty increased significantly.
Conversely, revenue from Companies Income Tax/Capital Gains Tax, Stamp Duty Tax, Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental, Gas Flared Fee and Miscellaneous Oil Revenue recorded considerable declines.
The statement said the distributable revenue for August was drawn from statutory revenue of ₦1.565 trillion and VAT revenue of ₦773.233 billion, bringing the total distributable amount to ₦2.338 trillion.
The latest FAAC distribution underscores the continuing role of monthly Federation Account allocations in financing the three tiers of government amid varying performances across Nigeria’s major revenue streams.
