The Federal Government, state governments, and local government councils have shared a total of ₦2.036 trillion as revenue for March 2026.
The allocation was approved at the April 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja, according to a statement from the Office of the Accountant General of the Federation.
The total distributable revenue comprised ₦1.320 trillion from statutory sources, ₦515.391 billion from Value Added Tax (VAT), and an additional ₦200 billion augmentation.
FAAC disclosed that the total gross revenue available for the month stood at ₦2.364 trillion. From this, ₦81.084 billion was deducted as the cost of collection, while ₦246.872 billion was allocated for transfers, refunds, and savings.
Statutory revenue for March rose to ₦1.699 trillion, reflecting an increase of ₦137.914 billion compared to February’s ₦1.561 trillion. However, VAT revenue dropped slightly to ₦664.425 billion from ₦668.450 billion recorded in the previous month.
From the total distributable revenue:
- The Federal Government received ₦789.159 billion
- State governments received ₦657.596 billion
- Local government councils got ₦468.826 billion
- Oil-producing states received ₦120.759 billion as 13% derivation revenue
A breakdown of the statutory revenue shows that the Federal Government received ₦632.260 billion, states got ₦320.691 billion, and local governments received ₦247.239 billion.
From the VAT component, the Federal Government received ₦51.539 billion, states got ₦283.465 billion, while local governments received ₦180.387 billion.
The ₦200 billion augmentation was shared with the Federal Government receiving ₦105.360 billion, states ₦53.440 billion, and local governments ₦41.200 billion.
The report also noted significant increases in revenue from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and excise duties. However, earnings from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalties, import duties, and the Common External Tariff (CET) declined, while VAT recorded a marginal decrease.
