- As 2026 tax revolution boosts CIT, CGT, Excise Duty accruals
BY COBHAM NSA – Nigeria’s three tiers of government have enjoyed a massive N2.036 trillion package as their March 2026 revenue, with stronger statutory inflows boosting April’s allocation.
According to a communique issued by the Federation Account Allocation Committee (FAAC) in Abuja, the improved income to the Federal Government, States, and Local Government was courtesy of a significant injection of funds into the nation’s economy.
Information available indicates the recorded surge in non-oil revenue collections during the month under review was specifically driven by major increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and Excise Duty. All thanks to government’s implementation of the Nigeria Tax Act (NTA) 2025 that has overhauled the tax system since becoming effective January 1, 2026
The FAAC communique stated that N2.036 trillion total distributable revenue comprised statutory revenue of N1.320 trillion, Value Added Tax (VAT) revenue of N515.391 billion and Augmentation of N200 billion.
It also noted that total gross revenue of N2.364 trillion was available in the month of March 2026 with total deduction for cost of collection at N81.084 billion while total transfers, refunds and savings stood at N246.872 billion and augmentation of N200 billion.
The figures showed that the gross statutory revenue of N1.699 trillion received for March 2026 was higher than the sum of N1.561 trillion received in the preceding month by N137.914 billion, just as the gross revenue of N664.425 billion available from VAT was lower than the N668.450 billion that came in February 2026 by N4.025 billion.
From the N2.036 trillion total distributable revenue, the Federal Government received N789.159 billion, the State Governments got N657.596 billion, the Local government Council received N468.826 billion, while N120.759 billion, representing 13 percent of mineral revenue was shared to the benefiting State as derivation revenue.
Of the N1.320 trillion statutory revenue, the communiqué explained that the Federal Government got N632.260 billion, the State Governments received N320.691 billion while N247.239 billion went to the Local Government Councils with N120.759 billion, being 13 percent of mineral revenue, distributed to the benefiting States as derivation income.
From the N515.391 billion VAT revenue, N51.539 billion went to the Federal Government coffers, the State Governments got N283.465 billion and the Local Government Councils received N180.387 billion.
Additionally, the N200.000 Augmentation saw the Federal Government receiving N105.360 billion, the State Government got N53.440 billion with N41.200 billion going to the Local Government Council.
A statement by Bawa Mokwa, Director, Press and Public Relations, Office of the Accountant General of the Federation (OAGF) also confirmed that in the month under review, Companies income Tax (CIT), CGT, SDT and Excise Duty with significant increased in accruals into the federation account.
However, the statement also said accruals from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty, Import Duty and CET decreased considerably during the period while Value Added Tax (VTA) also recorded marginal decline.
