FAAC allocates N2.428tn Sept 2026 revenue: FG N832bn, states N799bn, LGs N560bn

The Federation Account Allocation Committee shared N2.428 trillion as September 2026 distributable revenue among the Federal Government, state governments and local government councils. Of this, N1.672 trillion came from distributable statutory revenue and N756.587 billion from Value Added Tax. The Federal Government received N832.242 billion, state governments got N799.872 billion, and local councils received N560.660 billion, while N236.049 billion (13% of mineral revenue) went to benefiting states as derivation.

This allocation directly affects government budgets at all levels, influencing funds available for salaries, infrastructure projects, and social services. States and LGAs with higher shares may have more capacity to pay workers, execute contracts, or invest in local development, while those with lower shares could face tighter finances. The increase in gross statutory revenue (up N246.384 billion from August) signals stronger earnings from oil-related taxes despite a dip in VAT collections.

From the statutory pool, the FG took N756.583 billion, states N383.749 billion, and LGAs N295.855 billion. From VAT, the FG received N75.659 billion, states N416.123 billion, and LGAs N264.805 billion. Revenue sources such as Petroleum Profit Tax, Hydrocarbon Tax, royalties, import duty and excise duty rose, while Companies Income Tax, Capital Gains Tax, Stamp Duties, VAT, mineral royalties and gas-flaring penalties fell.

Will your state or local government use this boost to clear arrears, launch new projects, or improve service delivery, and how might that impact your community?

SOURCE: https://dailypost.ng/2026/10/15/faac-shares-n2-428tn-to-fg-states-lgs-for-september-2026/