FAAC allocates N2.428 trillion September revenue as FG gets N832.24bn, states N799.87bn

The Federation Account Allocation Committee distributed N2.428 trillion as September 2026 revenue among federal, state and local governments, with the Federal Government receiving N832.242 billion, state governments N799.872 billion, and local government councils N560.660 billion. This allocation came from N3.913 trillion gross revenue before deductions of N131.758 billion for collection costs and N1.352 trillion for transfers, refunds and savings.

Statutory revenue (N1.672 trillion) increased by N246.384 billion from August, while VAT revenue (N756.587 billion) decreased by N17.972 billion month-on-month. From statutory revenue, FG got N756.583 billion, states N383.749 billion, and LGAs N295.855 billion. From VAT revenue, FG received N75.659 billion, states N416.123 billion, and LGAs N264.805 billion. Benefiting states also shared N236.049 billion as 13% derivation revenue from mineral resources.

This follows Q2 2026 where states collectively received N2.39 trillion from FAAC—a 12.2% increase from Q1. The mixed revenue performance shows growing reliance on non-oil statutory income as VAT collections soften, directly impacting state budgets for infrastructure, salaries and public services. With states depending heavily on these allocations, what does this revenue mix mean for your state government's ability to fund projects and pay obligations in the coming months?

SOURCE: https://nairametrics.com/2026/10/15/faac-shares-n2-43-trillion-among-fg-states-lgs-for-september/