The ₦2.036 trillion total distributable revenue comprised distributable statutory revenue of ₦1.320 trillion, distributable Value Added Tax revenue of ₦515.391 billion, and an augmentation of ₦200 billion
A total sum of ₦2.036 trillion, being the March 2026 Federation Account Revenue, has been shared among the Federal Government, states, and local governments
The revenue was shared at the April 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja, according to a statement from the Office of the Accountant General of the Federation on Wednesday
The ₦2.036 trillion total distributable revenue comprised distributable statutory revenue of ₦1.320 trillion, distributable Value Added Tax (VAT) revenue of ₦515.391 billion, and an augmentation of ₦200 billio
“A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of ₦2.364 trillion was available in the month of March 202
“Total deduction for cost of collection was ₦81.084 billion, while total transfers, refunds, and savings were ₦246.872 billion and agumentation of ₦200 billion
“According to the communiqué, gross statutory revenue of ₦1.699 trillion was received for the month of March 2026. This was higher than the sum of ₦1.561 trillion received in the preceding month by ₦137.914 billion,” the statement signed by the Director (Press and Public Relations), Bawa Mokwa, partly real
It further revealed that gross revenue of ₦664.425 billion was available from the Value Added Tax (VAT) in March 2026, lower than the ₦668.450 billion available in the month of February 2026 by ₦4.025 billion
The communiqué showed that from the ₦2.036 trillion total distributable revenue, the Federal Government received a total sum of ₦789.159 billion, and the state governments received a total sum of ₦657.596 billion
“The local government councils received ₦468.826 billion, while the sum of ₦120.759 billion (13 per cent of mineral revenue) was shared with the benefiting state as derivation revenue,” it added
On the ₦1.320 trillion distributable statutory revenue, the communiqué stated that the Federal Government received ₦632.260 billion and the state governments received ₦320.691 billio
It further indicated that the local government councils received ₦247.239 billion, and the sum of ₦120.759 billion (13 per cent of mineral revenue) was shared among the benefiting states as derivation revenu
“From the ₦515.391 billion distributable Value Added Tax (VAT) revenue, the Federal Government received ₦51.539 billion, the State Governments received ₦283.465 billion, and the local government councils received ₦180.387 billio
“From the ₦200.000 augmentation, the Federal Government received ₦105.360 billion, while the state government received ₦53.440 billion, and the local government council received ₦41.200 billion
“In March 2026, Companies Income Tax (CIT), CGT, SDT, and excise duty increased significantly while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty, Import Duty, and CET decreased considerably. Value Added Tax (VAT) decreased marginally,” the statement added
