The Federal Government, states and Local Government Councils have shared N2.338 trillion from the August 2026 Federation Account revenue.
The revenue was shared at the September meeting of the Federation Account Allocation Committee (FAAC), held in Abuja.
The N2.338 trillion distributable revenue comprised N1.565 trillion in statutory revenue and N773.233 billion from Value Added Tax (VAT).
According to the communiqué issued after the meeting, a total gross revenue of N3.685 trillion was available for distribution in August.
Of this amount, N125.142 billion was deducted as the cost of collection, while N1.221 trillion was allocated to transfers, refunds and savings.
The communiqué revealed that the gross statutory revenue stood at N2.850 trillion in August, representing a decrease of N1.508 trillion from the N4.359 trillion recorded in July.
However, gross VAT revenue increased to N834.843 billion in August from N793.968 billion in July, representing an increase of N40.875 billion.
From the N2.338 trillion distributable revenue, the Federal Government received N804.897 billion, while the states received N794.313 billion.
The Local Government Councils received N555.142 billion, while N184.388 billion, representing 13 per cent of mineral revenue, was shared among benefiting states as derivation revenue.
Statutory, VAT Revenue
Of the N1.565 trillion distributable statutory revenue, the Federal Government received N727.573 billion, while the states received N369.035 billion.
The Local Government Councils received N284.511 billion, while N184.388 billion was shared to benefiting states as derivation revenue.
From the N773.233 billion distributable VAT revenue, the Federal Government received N77.323 billion, while the states received N425.278 billion.
The Local Government Councils received N270.632 billion.
The communiqué also noted that revenue from Petroleum Profit Tax, Hydrocarbon Tax, Value Added Tax, Customs Excise Tariff levies and Excise Duty increased significantly in August.
However, revenue from Companies Income Tax, Capital Gains Tax, Stamp Duty, Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental Gas Flared Fee and Miscellaneous Oil Revenue recorded considerable decreases.
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