The Federation Account Allocation Committee (FAAC), chaired by the new Coordinating Minister of the Economy, Taiwo Oyedele, has shared a total of ₦2.036 trillion as revenue allocation for March 2026.
This marks the second time in 2026 that FAAC disbursements to the federal, state, and local governments have exceeded the ₦2 trillion mark.
According to a statement from the Office of the Accountant General of the Federation, signed by Bawa Mokwa, the total distributable revenue comprised ₦1.320 trillion from statutory revenue, ₦515.391 billion from Value Added Tax (VAT), and ₦200 billion as augmentation.
Gross revenue for the month stood at ₦2.364 trillion, with ₦81.084 billion deducted as cost of collection, while ₦246.872 billion was allocated for transfers, refunds, and savings.
From the total distributable revenue of ₦2.036 trillion, the Federal Government received ₦789.159 billion, state governments got ₦657.596 billion, and local government councils were allocated ₦468.826 billion. Oil-producing states received ₦120.759 billion as 13 per cent derivation revenue.
A breakdown of the statutory revenue component showed the Federal Government received ₦632.260 billion, states ₦320.691 billion, local governments ₦247.239 billion, while derivation accounted for ₦120.759 billion.
From the VAT component of ₦515.391 billion, the Federal Government got ₦51.539 billion, states ₦283.465 billion, and local governments ₦180.387 billion.
The ₦200 billion augmentation was shared with the Federal Government receiving ₦105.360 billion, states ₦53.440 billion, and local governments ₦41.200 billion.
