FG, States, LGs Share N2.257trn As FAAC Allocation Surges

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ABUJA – The Federal Government, state governments and lo­cal government councils shared a total of N2.257 trillion from the Federa­tion Account as revenue allocation for April 2026, following a significant rise in collections from major tax and non-oil revenue sources.

The disclosure was made on Monday by the Office of the Accountant-General of the Federation (OAGF) after the May 2026 meeting of the Federation Account Alloca­tion Committee (FAAC) held in Abuja.

In a statement signed by the Director of Press and Public Relations at the OAGF, Bawa Mokwa, and made avail­able to newsmen on Mon­day, the total distributable revenue comprised N1.260 trillion statutory revenue, N747.088 billion Value Added Tax (VAT) revenue, and N250 billion augmentation.

According to the commu­niqué issued after the FAAC meeting, total gross revenue collected in April stood at N3.184 trillion. From this amount, N113.756 billion was deducted as cost of collection, while N813.839 billion went to transfers, refunds and sav­ings.

A breakdown of the allo­cation showed that the Fed­eral Government received N787.351 billion, state gov­ernments got N772.360 bil­lion, while local government councils shared N540.152 bil­lion.

Additionally, oil-produc­ing states received N157.254 billion as 13 percent deriva­tion revenue, representing their share of mineral earn­ings.

The committee noted a sharp increase in statutory revenue during the period under review. Gross statuto­ry revenue rose to N2.378 tril­lion in April, up from N1.699 trillion recorded in March, representing an increase of N678.224 billion.

VAT collections also im­proved significantly. Gross VAT revenue for April stood at N806.617 billion, compared with N664.425 billion in March, reflecting an increase of N142.192 billion.

From the N1.260 trillion distributable statutory reve­nue, the Federal Government received N580.942 billion, states got N294.661 billion, while local governments received N227.172 billion. The derivation allocation of N157.254 billion was also dis­tributed from this component to eligible states.

For the N747.088 billion VAT revenue, the Federal Government received N74.709 billion, state governments shared N410.898 billion, while local governments got N261.481 billion.

Meanwhile, from the N250 billion augmentation, the Fed­eral Government received N131.700 billion, state govern­ments got N66.800 billion, and local government councils re­ceived N51.500 billion.

FAAC attributed the strong revenue performance largely to higher inflows from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Import Duty, Oil and Gas Royalties, and VAT, all of which re­corded significant increases during the month.

However, the committee noted declines in revenue from Petroleum Profit Tax (PPT) and Hydrocarbon Tax (HT), while Excise Duty and Common External Tariff (CET) levies posted marginal decreases.

The latest allocation un­derscores the growing con­tribution of non-oil revenue streams to government earn­ings, amid continued volatili­ty in oil-related receipts.