The Federation Account Allocation Committee (FAAC) distributed a total of ₦2.036 trillion in revenue for March 2026 to the three tiers of government, despite a notable decline in import duty collections and oil-related royalties.
The distribution, finalized during the April 2026 FAAC meeting in Abuja, occurred amidst a fluctuating revenue landscape.
While the total gross revenue available for the month stood at ₦2.364 trillion, significant decreases were recorded in Import Duty, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil and Gas Royalty.
In contrast, Companies Income Tax (CIT), Excise Duty, and Stamp Duties saw significant growth, helping to stabilize the federation’s account.
The ₦2.036 trillion shared among the Federal, State, and Local Governments comprised ₦1.320 trillion in distributable statutory revenue, ₦515.391 billio from Value Added Tax (VAT), and an augmentation of ₦200 billion.
From this total, the Federal Government received ₦789.159 billion, while the State Governments** and Local Government Councils were allocated ₦657.596 billion and ₦468.826 billion, respectively.
An additional ₦120.759 billion was shared among oil-producing states as 13% derivation revenue.
Gross statutory revenue for March reached ₦1.699 trillion, marking an increase of ₦137.914 billion over the preceding month.
However, VAT collections experienced a marginal dip, falling from ₦668.450 billion in February to ₦664.425 billion in March.
From the distributable VAT pool of ₦515.391 billion, the states received the largest share of ₦283.465 billion, followed by local governments at ₦180.387 billion and the federal government at ₦51.539 billion.
The communiqué issued by the committee detailed that ₦81.084 billion was deducted for cost of collection, while transfers, refunds, and savings accounted for ₦246.872 billion.
To bolster the final payout, an augmentation of ₦200 billion was introduced, with the Federal Government receiving ₦105.360 billion, States ₦53.440 billion and Local Councils ₦41.200 billion from this specific provision.