FG, states, LGCs share N1.894trn

2026-03-13 - 19:17

By Emma Ujah, Abuja Bureau Chief The Federation Account Allocation Committee (FAAC) has shared the sum of N1.894 trillion to the three tiers of government as Federation Allocation for the month of February 2026. The Federal Ministry of Finance indicated in a statement this evening that the distribution was from a gross total of N2.230 trillion in revenue received in the month under review. The Federal Government received N675.086 billion, the States N651.525 billion, and the Local Government Councils N456.467 billion, while the Oil Producing States received an extra N110.949 billion as derivation (13% of mineral revenue). The sum of N77.302 billion was given to revenue agencies as cost of collection, while N259.078 billion was allocated for transfers, intervention and refunds. Gross revenue available from the Value Added Tax (VAT) for the month of February, according to a statement issued by Mrs Uloma Amadi, the Assistant Director of Information and Public Relations, was N668.450 billion as against N1.083 trillion distributed in the preceding month, resulting in a decrease of N414.710 billion. From the stated amount, the sum of N26.738 billion was allocated for the cost of collection, and the sum of N22.593 billion was given for transfers, intervention and refunds. The remaining sum of N619.119 billion was distributed to the three tiers of government, with the Federal Government receiving N61.912 billion, States N340.515 billion and Local Government Councils N216.692 billion. The Gross Statutory Revenue of N1.561 trillion received for the month was also lower than the sum of N1.957 trillion received in the previous month by N395.138 billion. From the stated amount, the sum of N50.564 billion was allocated for the cost of collection and a total sum of N236.485 billion for transfers, intervention and refunds. The balance of N1.274 trillion was distributed as follows: the federal government received N613.174 billion, states received N311.010 billion, and LGs received N239.776 billion, while N110.949 billion was given to Derivation Revenue (13% mineral-producing states). The ministry said oil and gas royalty and excise duty increased significantly, while petroleum profit tax (PPT), hydrocarbon tax (HT), companies income tax (CIT)/CGT and SDT and value added tax (VAT) decreased substantially.