The Federation Account Allocation Committee (FAAC) has distributed a total of N1.894 trillion as revenue for February 2026 to the Federal Government, state governments, and the 774 local government councils across Nigeria.
The allocation was made during the FAAC meeting held in March 2026 in Abuja.
The details of the revenue sharing were released in a communiqué signed on Friday by Bawa Mokwa, the Director of Press and Public Relations.
The communiqué said the N1.894 trillion distributable revenue included N1.274 trillion from statutory revenue and N619.119 billion from Value Added Tax (VAT).
FAAC reported that the total gross revenue for February 2026 was N2.230 trillion before deductions.
Out of this, N77.302 billion was deducted as cost of revenue collection, while N259.078 billion was set aside for transfers, refunds, and savings. The remaining balance was shared among the three levels of government.
The statement added that gross statutory revenue for February 2026 was N1.561 trillion, down from N1.957 trillion recorded in January 2026 — a decline of N395.138 billion.
It also showed that gross VAT revenue stood at N668.450 billion in February, falling from N1.083 trillion in January, a decrease of N414.710 billion.
From the total N1.894 trillion distributable revenue, the Federal Government received N675.088 billion, the 36 state governments shared N651.525 billion, while the 774 local government councils got N456.467 billion.
In addition, oil-producing states shared N110.949 billion, representing 13 per cent derivation revenue from mineral resources.
Looking closer at the N1.274 trillion statutory revenue, the Federal Government got N613.174 billion, states N311.010 billion, and local governments N239.776 billion. The oil-producing states also received N110.949 billion as derivation revenue.
From the N619.119 billion VAT revenue, the Federal Government received N61.912 billion, state governments got N340.515 billion, and local governments shared N216.692 billion.
The FAAC communiqué also highlighted how key revenue sources performed in February.
It showed that oil and gas royalties and excise duties increased during the month, while Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Stamp Duties, and VAT all fell significantly.
Import duties and the Common External Tariff, however, recorded small increases during the period.
FAAC meets every month to share revenue collected into the Federation Account among the Federal Government, states, and local governments, following Nigeria’s revenue-sharing formula.
