FAAC Disburses N2.338tn August Revenue, FG Gets N804.9bn

The Federation Account Allocation Committee (FAAC) has shared N2.338 trillion in revenue generated in August 2026 among the Federal Government, state governments and local government councils.

The figure was disclosed in 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.

The allocation was made at the September 2026 FAAC meeting held in Abuja.

The N2.338 trillion total distributable revenue comprised N1.565 trillion in statutory revenue and N773.233 billion from Value Added Tax (VAT).

According to the statement, a total gross revenue of N3.685 trillion was available for the month. Of this amount, N125.142 billion was deducted as the cost of revenue collection, while N1.221 trillion was allocated to transfers, refunds and savings.

The statement said gross statutory revenue stood at N2.850 trillion in August, representing a decline of N1.508 trillion from the N4.359 trillion recorded in July.

However, VAT revenue increased during the period, with N834.843 billion recorded in August compared with N793.968 billion in July, representing an increase of N40.875 billion.

From the N2.338 trillion total distributable revenue, the Federal Government received N804.897 billion, while the 36 state governments collectively received N794.313 billion.

Local government councils received N555.142 billion, while N184.388 billion was distributed to benefiting states as 13 per cent derivation revenue from mineral resources.

Statutory revenue

Of the N1.565 trillion distributable statutory revenue, the Federal Government received N727.573 billion.

State governments received N369.035 billion, while local government councils received N284.511 billion.

A further N184.388 billion was shared among the benefiting states as the 13 per cent derivation component of mineral revenue.

VAT allocation

From the N773.233 billion distributable VAT revenue, the Federal Government received N77.323 billion.

State governments received N425.278 billion, while local government councils received N270.632 billion.

The FAAC communiqué also showed mixed movements across major revenue sources during the month.

Petroleum Profit Tax, Hydrocarbon Tax, VAT, Customs and Excise Duty recorded increases in August.

However, Companies Income Tax, Capital Gains Tax, Stamp Duty Tax, Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental Gas Flared Fee and Miscellaneous Oil Revenue recorded declines.

The August allocation brings the latest monthly revenue-sharing figures available to the three tiers of government as they continue to rely on Federation Account inflows to fund public expenditure and statutory obligations.