FG, States, LGs Share ₦2.036Trn March Revenue

By Our Reporter

The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.036 trillion as March 2026 federation revenue among the Federal Government, 36 states, and the 774 local government councils across Nigeria.

According to the communiqué issued after FAAC’s April meeting in Abuja, the distributable revenue comprised ₦1.320 trillion from statutory revenue, ₦515.391 billion from Value Added Tax (VAT), and ₦200 billion as augmentation. Total gross revenue available for the month stood at ₦2.364 trillion, while deductions for cost of collection amounted to ₦81.084 billion, with ₦246.872 billion allocated for transfers, refunds, and savings.

From the total distributable revenue, the Federal Government received ₦789.159 billion, state governments got ₦657.596 billion, while local government councils received ₦468.826 billion. Oil-producing states also received ₦120.759 billion as 13 per cent derivation revenue.

ALSO READ: Edun, Dangiwa Resigned From Tinubu’s Cabinet, Were Not Sacked — Presidency

FAAC also disclosed that gross statutory revenue for March rose to ₦1.699 trillion, representing an increase of ₦137.914 billion from the ₦1.561 trillion recorded in February. However, VAT revenue dropped slightly to ₦664.425 billion from ₦668.450 billion in February, reflecting a decline of ₦4.025 billion.

The committee noted that Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, and Excise Duty recorded significant increases, while Petroleum Profit Tax (PPT), Hydrocarbon Tax, Oil and Gas Royalty, Import Duty, and CET declined considerably.