FG, STATES, LGs SHARE N2.428TRN SEPTEMBER REVENUE
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By ‘Sefiu Ajape
The Federal Government, state governments, and local government councils have shared N2.428 trillion as revenue accrued to the Federation Account for September 2026.
A statement issued on Thursday by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, said the revenue was shared at the October 2026 meeting of the Federation Account Allocation Committee held in Abuja.
The total distributable revenue comprised N1.672 trillion in statutory revenue and N756.587 billion from Value Added Tax.
According to the FAAC communiqué, the Federation Account recorded a gross revenue of N3.913 trillion in September. A total of N131.758 billion was deducted as the cost of collection, while N1.352 trillion went to transfers, refunds, and savings.
The communiqué stated that gross statutory revenue stood at N3.096 trillion in September, representing an increase of N246.384 billion over the N2.850 trillion recorded in August.
However, gross revenue from Value Added Tax fell to N816.872 billion in September from N834.843 billion in August, representing a decline of N17.972 billion.
Of the N2.428 trillion distributable revenue, the Federal Government received N832.242 billion, while state governments received N799.872 billion.
Local government councils received N560.660 billion, while N236.049 billion, representing 13 percent of mineral revenue, was shared among benefiting states as derivation revenue.
A breakdown of the N1.672 trillion distributable statutory revenue showed that the Federal Government received N756.583 billion, while state governments got N383.749 billion.
Local government councils received N295.855 billion, while benefiting states shared N236.049 billion as derivation revenue.
From the N756.587 billion distributable VAT revenue, the Federal Government received N75.659 billion, state governments got N416.123 billion, and local government councils received N264.805 billion.
The communiqué further stated that Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, CET levies, and excise duty recorded significant increases in September.
However, Companies Income Tax, Capital Gains Tax and Stamp Duties Tax, Value Added Tax, mineral royalties, gas-flaring penalties, rental gas-flaring fees and miscellaneous oil revenue recorded considerable declines.
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