Nigeria’s Federation Account Allocation Committee (FAAC) shared a total of N2.04tn as revenue for March 2026, reflecting a N150bn increase from the N1.89tn distributed in February amid stronger statutory inflows.
In a statement issued on Wednesday by the Office of the Accountant-General of the Federation and signed by its Director of Press and Public Relations, Bawa Mokwa, “a total sum of N2.036tn, being March 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils at the April 2026 FAAC meeting held in Abuja.”
The statement explained that N2.04tn distributable revenue comprised N1.32tn from statutory revenue, N515.39bn from Value Added Tax, and N200bn as augmentation.
The breakdown showed that the Federal Government received N789.16bn, representing about 38.8 per cent of the total pool, while states got N657.60bn, about 32.3 per cent, and local government councils received N468.83bn, about 23.0 per cent. Oil-producing states received N120.76bn as derivation, accounting for roughly 5.9 per cent of the total.
The statement said that total gross revenue of N2.364tn was available in the month of March 2026, from which N81.08bn was deducted as cost of collection, while N246.87bn was recorded as transfers, refunds, and savings.
The deductions and transfers together accounted for over 13 per cent of gross inflows, highlighting the scale of statutory obligations before distribution.
According to the statement, from the statutory revenue component of N1.32tn, the Federal Government received N632.26bn, states got N320.69bn, and local governments received N247.24bn, while N120.76bn was shared as derivation.
Similarly, from the N515.39bn VAT pool, the Federal Government received N51.54bn, states got N283.47bn, and local governments received N180.39bn, reinforcing the growing importance of consumption taxes in subnational revenues.
From the N200bn augmentation, the Federal Government received N105.36bn, states got N53.44bn, and local governments received N41.20bn, suggesting continued fiscal adjustments to stabilise monthly allocations.
GIK/APA