Adedokun Waliyu 
A total sum of ₦2.036 trillion, representing the March 2026 Federation Account revenue, has been shared among the Federal Government, states, and local government councils.
The revenue was distributed at the Federation Account Allocation Committee (FAAC) meeting held in Abuja, according to a statement from the Office of the Accountant General of the Federation.
The total distributable revenue consisted of ₦1.320 trillion in statutory revenue, ₦515.391 billion from Value Added Tax (VAT), and an augmentation of ₦200 billion.
The communiqué indicated that 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.
Gross statutory revenue for March 2026 was ₦1.699 trillion, representing an increase compared to the ₦1.561 trillion recorded in the previous month. Meanwhile, VAT revenue stood at ₦664.425 billion, slightly lower than the ₦668.450 billion recorded in February.
From the ₦2.036 trillion distributable revenue, the Federal Government received ₦789.159 billion, state governments received ₦657.596 billion, and local government councils received ₦468.826 billion. Additionally, ₦120.759 billion, representing 13 percent of mineral revenue, was shared among benefiting states as derivation revenue.
Out of the ₦1.320 trillion statutory revenue, the Federal Government received ₦632.260 billion, states received ₦320.691 billion, and local governments received ₦247.239 billion, while ₦120.759 billion was allocated as derivation revenue.
From the ₦515.391 billion VAT revenue, the Federal Government received ₦51.539 billion, states received ₦283.465 billion, and local governments received ₦180.387 billion.
From the ₦200 billion augmentation, the Federal Government received ₦105.360 billion, states received ₦53.440 billion, and local governments received ₦41.200 billion.
The report also showed that revenues from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and excise duties increased significantly during the period, while Petroleum Profit Tax (PPT), Hydrocarbon Tax, oil and gas royalties, import duties, and CET recorded notable declines. Value Added Tax recorded a slight decrease.
