The Federal Government, 36 state governments and Local Government Councils have shared a total of N2.338 trillion as Federation Account revenue for August 2026.

The distribution was approved at the September 2026 meeting of the Federation Account Allocation Committee (FAAC) in Abuja, according to a statement issued on Thursday by Mr. Bawa Mokwa, Director of Press and Public Relations.

The distributable sum comprises N1.565 trillion in statutory revenue and N773.233 billion from Value Added Tax (VAT).

A communiqué issued at the end of the meeting showed that the Federation Account recorded a gross revenue of N3.685 trillion in August. However, N125.142 billion was deducted as cost of collection, while N1.221 trillion went to transfers, refunds and savings before the final distributable balance was arrived at.

From the total N2.338 trillion shared, the Federal Government received N804.897 billion, states received N794.313 billion, while Local Government Councils received N555.142 billion.

The benefiting oil-producing states also received N184.388 billion as 13 per cent derivation revenue from mineral proceeds.

A breakdown of the N1.565 trillion statutory revenue showed that the Federal Government received N727.573 billion, state governments received N369.035 billion and Local Government Councils received N284.511 billion. The oil-producing states received the N184.388 billion derivation allocation.

From the N773.233 billion distributable VAT revenue, the Federal Government received N77.323 billion, states received N425.278 billion, while the Local Government Councils received N270.632 billion.

However, the FAAC communiqué revealed mixed performance across key revenue streams during the month. While Petroleum Profit Tax, Hydrocarbon Tax, VAT, CET levies and Excise Duty recorded significant increases, Companies Income Tax, Capital Gains Tax, Stamp Duty, petroleum and mineral royalties, gas-flaring penalties, import duty and other oil-related revenues declined considerably.

Gross statutory revenue for August stood at N2.850 trillion, representing a decline of N1.508 trillion from the N4.359 trillion recorded in July. Conversely, VAT revenue rose by N40.875 billion, increasing from N793.968 billion in July to N834.843 billion in August.