The Federal Government, state governments and local government councils have shared N2.429 trillion as revenue allocation for September 2026 from a gross revenue of N3.913 trillion.
The Federation Account Allocation Committee (FAAC) announced the distribution at its October 2026 meeting, chaired by the Accountant-General of the Federation, Shamsudeen B. Ogunjimi.
According to a communiqué issued at the end of the meeting by Francis Kusa, Chief Information Officer, Information and Public Relations, the Federal Government received N832.242 billion, while state governments got N799.872 billion and local government councils received N560.660 billion.
Oil-producing states also received N236.049 billion as their 13 per cent derivation revenue from mineral resources.
The communiqué stated that N131.758 billion was deducted as the cost of revenue collection, while N1.353 trillion was allocated for transfers, refunds and savings.
A breakdown of the revenue showed that the gross Value Added Tax (VAT) revenue for September stood at N816.872 billion, compared with N834.843 billion shared in August, representing a decline of N17.972 billion.
Of the VAT revenue, N23.576 billion was allocated for the cost of collection, while N36.709 billion went to transfers, refunds and savings.
The remaining N756.587 billion was distributed among the three tiers of government, with the Federal Government receiving N75.659 billion, states getting N416.123 billion and local government councils receiving N264.805 billion.
In contrast, gross statutory revenue increased to N3.097 trillion in September from N2.850 trillion in August, representing an increase of N246.384 billion.
From the statutory revenue, N106.182 billion was allocated for the cost of collection, while N1.316 trillion was set aside for transfers, refunds and savings.
The remaining N1.672 trillion was distributed among the Federal Government, states, local government councils and oil-producing states. The Federal Government received N756.583 billion, states got N383.749 billion, local government councils received N295.855 billion, while oil-producing states received N236.049 billion as derivation revenue.
The communiqué further indicated that revenues from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty recorded significant increases during the period.
However, receipts from Companies Income Tax, Stamp Duties Tax, Value Added Tax, mineral royalties, gas-flaring penalties, rentals, gas-flaring fees and miscellaneous oil revenue declined.
