FAAC shares ₦2.428tn Sept 2026 revenue: FG gets ₦832.2bn, States ₦799.9bn, LGs ₦560.7bn

The Federation Account Allocation Committee shared ₦2.428 trillion September 2026 revenue at its October meeting in Abuja. This total comprised ₦1.672 trillion statutory revenue and ₦756.587 billion VAT revenue.

The Federal Government received ₦832.242 billion (₦756.583bn from statutory, ₦75.659bn from VAT), State Governments got ₦799.872 billion (₦383.749bn statutory, ₦416.123bn VAT), and Local Government Councils received ₦560.660 billion (₦295.855bn statutory, ₦264.805bn VAT). An additional ₦236.049 billion as 13% derivation revenue went to oil-producing states.

While September gross statutory revenue rose to ₦3.096 trillion (up ₦246.384bn from August), VAT revenue fell to ₦816.872 billion (down ₦17.972bn). Increases were seen in PPT, HT, royalties and duties, while CIT, VAT and mineral royalties decreased significantly.

This revenue distribution affects government capacity to fund public services, infrastructure projects, and social programs across all levels. With statutory revenue up but VAT down, what does this mixed revenue trend mean for upcoming budget allocations and your state/local government's ability to deliver services?

SOURCE: https://www.channelstv.com/2026/10/15/fg-states-lgs-share-%e2%82%a62-4trn-september-2026-revenue/