The Federal Government, state governments and local government councils have shared N2.428 trillion in revenue from the Federation Account for September 2026.
The spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement on Friday following the October 2026 meeting of the Federation Account Allocation Committee (FAAC) in Abuja.
According to the statement, the total distributable revenue comprised N1.672 trillion from statutory revenue and N756.587 billion from Value Added Tax (VAT).
It added that the country generated N3.913 trillion in gross revenue in September, while N131.758 billion was deducted as the cost of collection and N1.352 trillion was allocated 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 from the N2.850 trillion recorded in August.
However, gross VAT revenue declined to N816.872 billion from N834.843 billion in the preceding month, representing a decrease of N17.972 billion.
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From 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 was shared among eligible states as 13 per cent derivation revenue from mineral resources.
A breakdown of the N1.672 trillion statutory revenue showed that the Federal Government received N756.583 billion, state governments got N383.749 billion, and local government councils received N295.855 billion.
The benefiting states also received N236.049 billion as their 13 per cent derivation share.
From the N756.587 billion VAT revenue, the Federal Government received N75.659 billion, state governments got N416.123 billion, while local government councils received N264.805 billion.
The communiqué further indicated that Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty recorded significant increases in September.
However, Companies Income Tax, Capital Gains Tax, Stamp Duties Tax, VAT, mineral royalties, gas-flaring penalties, rental gas-flaring fees and miscellaneous oil revenue recorded considerable declines.
