The Federation Account Allocation Committee (FAAC) has shared approximately ₦2.428 trillion in September 2026 revenue among the Federal Government, states and local government councils.
The allocation was approved at the committee’s October meeting in Abuja, according to a communiqué made available to CAPITAL POST on Thursday.
The Federal Government received ₦832.242 billion, states received ₦799.872 billion and local government councils received ₦560.660 billion. Another ₦236.049 billion was allocated to eligible states as 13 per cent mineral derivation revenue.
How September Revenue Was Shared
| Recipient or allocation category | Amount |
|---|---|
| Federal Government | ₦832.242 billion |
| State governments | ₦799.872 billion |
| Local government councils | ₦560.660 billion |
| 13% mineral derivation for eligible states | ₦236.049 billion |
| Total, based on listed allocations | ₦2.428823 trillion |
Source: FAAC communiqué. The individual allocations total ₦2.428823 trillion; the communiqué’s headline figure was ₦2.428 trillion.
The distributable funds came from statutory revenue and Value Added Tax (VAT).
Gross Revenue Reaches ₦3.913 Trillion
FAAC reported approximately ₦3.913 trillion in gross revenue for September.
Deductions included ₦131.758 billion for collection costs and approximately ₦1.352 trillion in transfers, refunds and savings.
Gross collections should be distinguished from distributable revenue, which is the amount available for sharing after applicable deductions and adjustments.
Statutory Revenue Rises While VAT Falls
Gross statutory revenue increased to approximately ₦3.096 trillion in September from ₦2.850 trillion in August. The communiqué put the increase at ₦246.384 billion.
Gross VAT revenue declined to ₦816.872 billion from ₦834.843 billion in August, a fall of approximately ₦17.97 billion.
| Revenue category | August 2026 | September 2026 | Direction |
|---|---|---|---|
| Gross statutory revenue | ₦2.850 trillion | ₦3.096 trillion | Increased |
| Gross VAT revenue | ₦834.843 billion | ₦816.872 billion | Decreased by approximately ₦17.97 billion |
The statutory figures are rounded. FAAC’s stated changes may reflect more precise underlying amounts.
Breakdown of Statutory and VAT Allocations
From distributable statutory revenue of approximately ₦1.672 trillion, the Federal Government received ₦756.583 billion, states received ₦383.749 billion and local councils received ₦295.855 billion.
The ₦236.049 billion mineral derivation payment also came from the statutory component.
Distributable VAT revenue stood at ₦756.587 billion.
| Recipient | Statutory allocation | VAT allocation |
|---|---|---|
| Federal Government | ₦756.583 billion | ₦75.659 billion |
| State governments | ₦383.749 billion | ₦416.123 billion |
| Local government councils | ₦295.855 billion | ₦264.805 billion |
| Eligible states’ mineral derivation | ₦236.049 billion | Not applicable |
Oil Taxes and Import Duties Record Gains
The communiqué reported significant increases in Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty.
Companies Income Tax, capital gains tax, stamp duties, VAT, mineral royalties and several other oil-related receipts declined.
State and Council Allocations Support Public Spending
The funds provide revenue for public services and expenditure across the three tiers of government. The communiqué did not provide individual allocations for each state or local government council.
In Kogi, public spending priorities have included Executive Council approvals for projects and agricultural support, student bursary payments and planned investment in medical education infrastructure.
Residents have also raised welfare needs through appeals concerning workers’ allowances and affordable housing, while food-price pressures in Kogi continue to affect household budgets.
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