By Agbafo Ijeoma
The Federal Government, state governments and Local Government Councils shared N2.338 trillion in revenue for August 2026, the Federation Account Allocation Committee (FAAC) has disclosed. The figure was contained in a communiqué from the committee’s September meeting held in Abuja.
The Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Mr Bawa Mokwa, disclosed this in a statement on Thursday. He said the total distributable revenue comprised N1.565 trillion in statutory revenue and N773.233 billion from Value Added Tax (VAT).
Mokwa said total gross revenue of N3.685 trillion was available for the month, while N125.142 billion was deducted as the cost of collection and N1.221 trillion was transferred, refunded or saved. He added that gross statutory revenue stood at N2.850 trillion, representing a decrease of N1.508 trillion from the N4.359 trillion recorded in July, while VAT revenue rose to N834.843 billion from N793.968 billion.
From the N2.338 trillion distributable revenue, the Federal Government received N804.897 billion, states received N794.313 billion and Local Government Councils received N555.142 billion.
A further N184.388 billion, representing 13 per cent of mineral revenue, was shared as derivation revenue to benefiting states.
Mokwa said the statutory revenue component gave the Federal Government N727.573 billion, states N369.035 billion and Local Government Councils N284.511 billion, while the VAT component provided N77.323 billion to the Federal Government, N425.278 billion to states and N270.632 billion to Local Government Councils. He added that Petroleum Profit Tax, Hydrocarbon Tax, VAT, Customs and Excise Duty increased significantly in August, while Companies Income Tax, Capital Gains Tax, Stamp Duty Tax, petroleum royalties and some other revenue sources declined.
