A total sum of N2.428 trillion has been shared to Nigeria’s three tiers of government – the Federal Government, States and the Local Government Councils as September 2026 Federation Account Revenue.
The statement from the Office of the Accountant-General of the Federation’s Director of Press and Public Relations, Bawa Mokwa, on Thursday, stated that the revenue was shared at the October 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The statement explained that the total distributable revenue of N2.428 trillion comprised distributable statutory revenue of N1.672 trillion and distributable Value Added Tax (VAT) revenue of N756.587 billion.
It added that total gross revenue of N3.913 trillion was available in the month of September 2026, while total deduction for cost of collection was N131.758 billion, and total transfers, refunds and savings N1.352 trillion.
The report quoted the communiqué as saying that gross statutory revenue of N3.096 trillion was received for the month of September 2026, which was higher than the sum of N2.850 trillion received in the preceding month by N246.384 billion.
It said that gross revenue of N816.872 billion was available from the Value Added Tax (VAT) in September 2026, which was lower than the N834.843 billion available in the month of August 2026 by N17.972 billion.
The report stated that from the N2.428 trillion total distributable revenue, the Federal Government received a total sum of N832.242 billion and the State Governments received a total sum of N799.872 billion while the Local Government Council received N560.660 billion.
The sum of N236.049 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
GIK/APA