By Seun Ibiyemi
The Federation Account Allocation Committee (FAAC) has distributed a total of N2.257 trillion among the Federal Government, state governments and local government councils as revenue allocation for April 2026.
The disclosure was made by the Director of Press and Public Relations in the Office of the Auditor-General of the Federation (OAGF), Mr. Bawa Mokwa, in a statement issued on Monday in Abuja.
According to Mokwa, the revenue was shared during the May 2026 meeting of FAAC held in the Federal Capital Territory.
He explained that the total distributable revenue comprised N1.260 trillion in statutory revenue, N747.088 billion from Value Added Tax (VAT), and an augmentation of N250 billion.
Mokwa said a communiqué issued at the end of the meeting indicated that a gross revenue of N3.184 trillion was available in April 2026.
The communiqué noted that N113.756 billion was deducted as the cost of revenue collection, while N813.839 billion was allocated for transfers, refunds and savings.
It further revealed that gross statutory revenue rose significantly to N2.378 trillion in April, representing an increase of N678.224 billion from the N1.699 trillion recorded in March 2026.
Similarly, VAT revenue increased to N806.617 billion in April, up by N142.192 billion from the N664.425 billion generated in March.
A breakdown of the N2.257 trillion distributable revenue showed that the Federal Government received N787.351 billion, while the 36 states shared N772.360 billion.
The 774 local government councils received N540.152 billion, while oil-producing states received N157.254 billion as derivation revenue, representing 13 per cent of mineral earnings.
From the N1.260 trillion statutory revenue component, the Federal Government received N580.942 billion, states received N294.661 billion, and local governments got N227.172 billion.
The derivation allocation of N157.254 billion was also distributed among eligible states.
For the N747.088 billion VAT revenue, the Federal Government received N74.709 billion, states received N410.898 billion, while local governments shared N261.481 billion.
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The N250 billion augmentation was distributed with the Federal Government receiving N131.700 billion, states N66.800 billion, and local governments N51.500 billion.
The communiqué also highlighted improved performance in several revenue sources during the period.
According to Mokwa, collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties Tax (SDT), Import Duty, Oil and Gas Royalties, and Value Added Tax recorded significant increases.
However, revenues from Petroleum Profit Tax (PPT) and Hydrocarbon Tax (HT) declined considerably, while Excise Duty and Common External Tariff (CET) levies recorded marginal decreases.
The latest allocation reflects improved revenue inflows across key sectors and provides a fiscal boost for the three tiers of government as they continue to implement budgets and development programmes across the country.
