FAAC Disburses ₦1.894 Trillion February Revenue to FG, States, LGs

The Federation Account Allocation Committee has disbursed a total of ₦1.894 trillion to the Federal Government, the 36 state governments, and the 774 local government councils as revenue allocation for February 2026.
The distribution was approved during the committee’s March 2026 meeting held in Abuja, according to a communiqué issued at the end of the meeting and signed by the Director of Press and Public Relations, Bawa Mokwa.
The statement explained that the ₦1.894 trillion distributable revenue was generated from multiple sources, including ₦1.274 trillion from statutory revenue and ₦619.119 billion from Value Added Tax (VAT).
According to the committee, the total gross revenue available in February 2026 stood at ₦2.230 trillion before statutory deductions were made.
From the gross amount, ₦77.302 billion was deducted as cost of revenue collection, while ₦259.078 billion was earmarked for transfers, refunds and savings. After these deductions, the remaining balance formed the distributable pool shared among the three tiers of government.
The communiqué also highlighted a notable drop in statutory revenue during the period under review. It revealed that gross statutory revenue for February 2026 stood at ₦1.561 trillion, representing a decline compared to the ₦1.957 trillion recorded in January 2026.
This indicates a decrease of ₦395.138 billion in statutory earnings between the two months.
The monthly revenue allocation from the federation account remains a critical lifeline for governments at all levels across Nigeria. Many states and local governments rely heavily on these allocations to fund salaries, public infrastructure, and essential social services.
The FAAC meeting, which is held monthly, brings together representatives of the federal, state and local governments to review revenues accruing to the federation account and determine how they are shared in line with established revenue-sharing formulas.
The latest distribution comes amid continued economic reforms and fiscal adjustments aimed at strengthening government revenues and stabilising public finances.