The Federation Account Allocation Committee (FAAC) has shared a total of N1.894 trillion as Federation Account revenue for February 2026 among the Federal Government, state governments and local government councils.
This was disclosed in a statement issued on Friday by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa.
The revenue distribution was approved at the March 2026 FAAC meeting held in Abuja, with the distributable amount made up of N1.274 trillion from statutory revenue and N619.119 billion from Value Added Tax (VAT).
The FAAC communiqué shows that total revenue available for distribution in February stood at N2.230 trillion before deductions.
N77.302 billion was deducted as the cost of collection.
N259.078 billion was recorded as transfers, refunds and savings.
The Federal Government received N675.088 billion from the total distributable revenue.
State governments collectively received N651.525 billion, while local government councils received N456.467 billion.
The communiqué also indicated that N110.949 billion, representing 13 per cent derivation revenue from mineral sources, was distributed to eligible states.
A breakdown of the statutory revenue component shows how the N1.274 trillion was shared among the three tiers of government.
The Federal Government received N613.174 billion from statutory revenue.
State governments received N311.010 billion.
Local government councils received N239.776 billion.
The N110.949 billion derivation revenue was distributed to oil-producing states.
From the N619.119 billion VAT revenue, the Federal Government received N61.912 billion, state governments received N340.515 billion, while local government councils received N216.692 billion.
The FAAC also reported a decline in several major revenue sources compared with the previous month.
Gross statutory revenue for February stood at N1.561 trillion, representing a decrease of N395.138 billion from the N1.957 trillion recorded in January 2026.
Gross VAT revenue dropped to N668.450 billion in February from N1.083 trillion recorded in January.
Revenue from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT) and VAT declined during the period.
However, oil and gas royalties and excise duties recorded significant increases.
The communiqué further noted that receipts from import duty and the Common External Tariff (CET) also increased marginally during the month.
