FAAC disburses N2.257tn April revenue to FG, States, LG councils

The Federation Account Allocation Committee (FAAC) has shared a total of N2.257 trillion among the Federal Government, state governments, and local government councils as revenue allocation for April 2026.

The development was disclosed in a statement issued on Monday by the Director of Press and Public Relations in the Office of the Accountant General of the Federation, Mr. Bawa Mokwa, following the FAAC meeting held in Abuja.

According to the statement, the distributable revenue comprised N1.260 trillion from statutory revenue, N747.088 billion from Value Added Tax (VAT), and N250 billion as augmentation.

FAAC noted that a total gross revenue of N3.184 trillion was available for the month under review. However, deductions for the cost of collection amounted to N113.756 billion, while transfers, refunds, and savings accounted for N813.839 billion.

The committee further disclosed that gross statutory revenue increased significantly from N1.699 trillion recorded in March 2026 to N2.378 trillion in April, representing an increase of N678.224 billion.

Similarly, VAT revenue rose from N664.425 billion in March to N806.617 billion in April, indicating a growth of N142.192 billion.

A breakdown of the N2.257 trillion shared showed that the Federal Government received N787.351 billion, while state governments got N772.360 billion. Local government councils received N540.152 billion, while oil-producing states received N157.254 billion as 13 per cent derivation revenue.

From the N1.260 trillion statutory revenue, the Federal Government received N580.942 billion, states received N294.661 billion, while local governments got N227.172 billion. The oil-producing states also received N157.254 billion as derivation revenue.

In the distribution of the N747.088 billion VAT revenue, the Federal Government received N74.709 billion, states received N410.898 billion, and local government councils got N261.481 billion.

The N250 billion augmentation was shared with the Federal Government receiving N131.700 billion, states N66.800 billion, and local governments N51.500 billion.

FAAC also reported improvements in revenue generation from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), import duties, oil and gas royalties, and VAT during the month.

However, collections from Petroleum Profit Tax (PPT) and Hydrocarbon Tax (HT) recorded significant declines, while Excise Duty and Common External Tariff (CET) levies witnessed marginal decreases.