The Federation Account Allocation Committee has distributed a total of ₦1.894 trillion from the Federation Account for February 2026 among the Federal Government of Nigeria, state governments and local government councils.
The disclosure was made on Friday in a statement by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation.
According to the communiqué issued after the March FAAC meeting in Abuja, the distributable revenue consisted of ₦1.274 trillion from statutory revenue and ₦619.119 billion from Value Added Tax (VAT).
The committee said total gross revenue available in February stood at ₦2.230 trillion. From this amount, ₦77.302 billion was deducted as the cost of collection, while ₦259.078 billion went to transfers, refunds and savings.
Of the ₦1.894 trillion shared, the Federal Government received ₦675.088 billion, state governments got ₦651.525 billion, and local government councils received ₦456.467 billion. Another ₦110.949 billion, representing 13 percent derivation from mineral revenue, was allocated to benefiting states.
Further details showed that from the ₦1.274 trillion statutory revenue, the Federal Government received ₦613.174 billion, states obtained ₦311.010 billion, and local governments got ₦239.776 billion, while the derivation fund was also distributed to eligible states.
From the ₦619.119 billion VAT revenue, the Federal Government received ₦61.912 billion, states collected ₦340.515 billion, and local governments got ₦216.692 billion.
The report also indicated mixed performance across revenue streams. Oil and gas royalties as well as excise duties recorded notable increases during the period.
However, collections from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT) and VAT declined significantly.
Meanwhile, receipts from import duties and the Common External Tariff (CET) recorded slight increases during the month.
