BREAKING: FAAC shares N2.428tn to FG, states, LGs for September 2026

In September 2026, a total of N2.428 trillion was shared among the Federal Government, state governments, and local government councils from the Federation Account revenue. The Office of the Accountant-General of the Federation announced the distribution at their October 2026 meeting in Abuja. The distributable revenue consisted of N1.672 trillion in statutory revenue and N756.587 billion in VAT revenue.

Gross revenue available in September 2026 was N3.913 trillion, with total deductions amounting to N131.758 billion. Transfers, refunds, and savings totaled N1.352 trillion. The Federal Government received N832.242 billion, while state governments received N799.872 billion. Local government councils received N560.660 billion. Additionally, N236.049 billion, representing 13% of mineral revenue, was shared among benefiting states as derivation revenue.

From the N1.672 trillion in distributable statutory revenue, the Federal Government received N756.583 billion, state governments received N383.749 billion, and local governments received N295.855 billion. VAT revenue distribution saw Federal Government receiving N75.659 billion, state governments receiving N416.123 billion, and local governments receiving N264.805 billion.

Other revenue sources like Petroleum Profit Tax, Hydrocarbon Tax, and import duty saw significant increases, while CIT, CGT, SDT, VAT, mineral royalties, gas-flaring penalties, rental gas-flaring fees, and miscellaneous oil revenue recorded considerable decreases.