The Federation Account Allocation Committee (FAAC) has shared a total of about N2.04 trillion among the three tiers of government for March 2026, reflecting a modest increase in revenue compared to the previous month.
At its April meeting, FAAC distributed the funds to the Federal Government, states, and local government councils from a gross revenue pool of about N2.36 trillion generated during the month.
After deductions for the cost of collection and transfers, refunds, and savings, the remaining sum of roughly N2.04 trillion was shared.
Breakdown of allocations
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From the total distributable revenue:
- The Federal Government received about N789.16 billion
- State governments got approximately N657.60 billion
- Local government councils were allocated about N468.83 billion
- Oil-producing states received N120.76 billion as 13% derivation revenue
Revenue components
The distributable revenue comprised:
- N1.32 trillion from statutory revenue
- N515.39 billion from Value Added Tax (VAT)
- N200 billion augmentation support
FAAC noted that statutory revenue improved during the month, rising to about N1.70 trillion, an increase of over N137 billion compared to February. However, VAT collections recorded a slight decline during the period.
Performance trends
The committee reported mixed performance across revenue streams. Collections from Companies Income Tax, Capital Gains Tax, Stamp Duties, and excise duties increased, while earnings from petroleum-related sources, import duties, and VAT dipped.
The March allocation marks one of the few times FAAC disbursements have exceeded the N2 trillion threshold this year, highlighting improved revenue inflows despite fluctuations in key sources.
