FACC Disburses N2.428tn September Allocations as Federation Revenue Grosses N3.913tn
Ndubuisi Francis in Abuja The Federation Account Allocation Committee (FAAC) has disbursed a total of N2.428 trillion to the Federal Government, states and local government councils, as Federation Revenue grossed
The Federation Account Allocation Committee (FAAC) disbursed N2.428 trillion in September 2026, surpassing the N2.338 trillion shared in August. The allocation was sourced from a total Federation Revenue of N3.913 trillion. The Federal Government received N832.242 billion, while state governments and local government councils each received N799.872 billion and N560.660 billion respectively.
Additionally, oil mineral producing states received N236.049 billion as 13% derivation revenue. The total distributable revenue in September comprised N1.672 trillion in distributable statutory revenue and N756.587 billion in distributable VAT revenue. Despite the gross revenue of N3.913 trillion, deductions for cost of collection amounted to N131.758 billion, with total transfers, refunds and savings accounting for N1.352 trillion.
The gross statutory revenue for September rose to N3.096 trillion, an increase of N246.384 billion from August's N2.850 trillion. VAT revenue also saw a decline in September, with a gross revenue of N816.872 billion, less than the N834.843 billion recorded in August.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
