FAAC Shares N2.04 Trillion for March as Revenue Rises by N150bn
The Federation Account Allocation Committee (FAAC) has distributed a total of N2.036 trillion as federation account revenue for March 2026 among the three tiers of government.
This represents a significant increase of approximately N150 billion compared to the N1.894 trillion shared in the preceding month of February.
The distribution was finalized during the April 2026 FAAC meeting held in Abuja. According to a communiqué released on Wednesday, April 22, 2026, by the Office of the Accountant-General of the Federation, the total distributable revenue of N2.036 trillion was drawn from several sources: N1.320 trillion in statutory revenue, N515.391 billion from Value Added Tax (VAT), and an augmentation of N200 billion.
A breakdown of the allocation shows that the Federal Government received the lion’s share of N789.159 billion. State governments were allocated N657.596 billion, while Local Government Councils received N468.826 billion. Additionally, oil-producing states received N120.759 billion as 13 percent derivation revenue from mineral royalties.
The communiqué highlighted a notable rise in gross statutory revenue, which climbed to N1.699 trillion in March, up from the N1.561 trillion recorded in February—an improvement of roughly N138 billion.
This growth was largely driven by significant increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and Excise Duty. Conversely, gross VAT revenue saw a marginal decline, dipping from N668.450 billion in February to N664.425 billion in March.
Before the final distribution, the committee noted that the total gross revenue available in the Federation Account for the month stood at N2.364 trillion. From this amount, a total of N81.084 billion was deducted as the cost of collection by various revenue-generating agencies, while N246.872 billion was set aside for transfers, interventions, and refunds.
The steady climb in distributable revenue is being viewed by economic analysts as a positive sign of stabilizing fiscal inflows, despite the slight volatility in consumption-based taxes like VAT. The increased allocation is expected to provide much-needed liquidity to state and local governments as they navigate the current inflationary pressures affecting public service delivery across the federation.
