FAAC shares N1.894trn to FG, states, LGCs for February 2026
By Editor
The Federation Account Allocation Committee (FAAC) at its 2026 March 2026 meeting has shared N1.894 trillion to the three tiers of government for February 2026, from a gross total of N2.230 trillion.
From the stated amount inclusive of Gross Statutory Revenue and Value Added Tax (VAT), the Federal Government received N675.086 billion, the States received N651.525 billion, the Local Government Councils got N456.467 billion, while the Oil Producing States received N110.949 billion as Derivation.
The Communique issued by FAAC at the end of the meeting indicated that the Gross Statutory Revenue for February 2026 was N1.561 trillion, lower than the N1.957 trillion, received in the previous month. Value Added Tax (VAT) revenue was N668.450 billion with N619.119 billion distributed to the three tiers of government. Oil and Gas Royalty and Excise Duty increased, while Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, and Value Added Tax decreased.
FAAC attributed changes in revenue to various factors, including increases in Oil and Gas Royalty and Excise Duty, and decreases in other tax revenues.
FAAC shares N1.894trn to FG, states, LGCs for February 2026
