BY COBHAM NSA – The three tiers of government have received huge financial boost with the Federation Account Allocation Committee (FAAC) disbursing ₦2.257 trillion to them as revenue earnings for the month of April 2026.
The amount was shared to the Federal Government, States and the Local Government Councils at the May 2026 FAAC meeting held in Abuja recently.
According to the available figure, the N2.257 trillion total distributable revenue comprises gross statutory revenue of N1.260 trillion, distributable Value Added Tax (VAT) revenue of N747.088 billion and Augmentation N250.000 billion.
A communiqué issued by FAAC indicated that a gross revenue of N3.184 trillion was the total inflow available in April and N113.756 billion was deducted as the cost of collection, while N813.839 billion was set aside for statutory transfers, refunds, and savings.
The communiqué, explained that the gross statutory revenue of N2.378 trillion received for the month was higher than the sum of N1.699 trillion received in the preceding month by N678.224 billion.
Also, gross revenue of N806.617 billion available from VAT in April was higher than the N664.425 billion available in the month of March 2026 by N142.192 billion.
According to the communique, of a massive N2.257 trillion total distributable revenue, the Federal Government got N787.351 billion to fund its operations; the state governments walked away with N772.360 billion; the Local Government Councils received N540.152 billion, while the sum of N157.254 billion, being 13 percent of mineral revenue, was shared to the benefiting State as derivation revenue.
The latest official distribution details also showed that from the N1.260 trillion distributable statutory revenue, the Federal Government got N580.942 billion, the State Governments bagged N294.661 billion, and the Local Government Councils received N227.172 billion with the sum of N157.254 billion as 13 percent of mineral revenue going to the benefiting States as derivation revenue.
Additionally, the N747.088 billion VAT revenue was distributed as follows, the Federal Government got N74.709 billion, the State Governments kept N410.898 billion and the Local Government Councils went home with N261.481 billion.
From the N250.000 Augmentation revenue, N131.700 billion went to the Federal Government, the State Government got N66.800 billion while the Local Government received N51.500 billion.
A statement by Bawa Mokwa,
Director, Press and Public Relations, Office of the Accountant General of the Federation (OAGF) also disclosed that in the month under review, the federation revenue recorded a structural shift, driven in part by recent changes implemented under the Nigeria Tax Reform Acts.
It stated that gross statutory revenues rose significantly as non-oil collections like Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Import Duty, and Value Added Tax (VAT) witnessed substantial gains.
On the other hand, petroleum-linked revenues such as the Petroleum Profit Tax (PPT) and Hydrocarbon Tax (HCT) declined considerably, while Excise Duty and CET Levies recorded only marginal decreases.
