The Federation Account Allocation Committee, FAAC, has shared N1.894 trillion as February 2026 federation revenue among the Federal Government, the 36 states and the 774 local government councils. The disbursement was approved at the committee’s March meeting in Abuja.
Figures from the FAAC communiqué showed that the Federal Government received N675.086 billion, the states got N651.525 billion, while local government councils received N456.467 billion. Oil-producing states also received N110.949 billion as 13 per cent derivation revenue.
The total distributable revenue comprised N1.274 trillion in statutory revenue and N619.119 billion from Value Added Tax, VAT. Available gross revenue for the month stood at N2.230 trillion, from which N77.302 billion was deducted as cost of collection and N259.078 billion as transfers, refunds and savings.
A breakdown of the VAT component showed that the Federal Government received N61.912 billion, the states N340.515 billion, and local governments N216.692 billion. From the statutory revenue component, the Federal Government got N613.174 billion, the states N311.010 billion, local governments N239.776 billion, while the derivation share went to eligible mineral-producing states.
FAAC also reported a drop in major revenue lines compared with January. Gross statutory revenue for February stood at N1.561 trillion, lower than the N1.957 trillion recorded in the previous month. Gross VAT revenue also declined to N668.450 billion from N1.083 trillion.
The committee said oil and gas royalty as well as excise duty recorded significant increases during the month. However, Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Stamp Duties and VAT all posted substantial declines.
The latest allocation reflects the continued weight of federation revenue in funding public administration across Nigeria. It also points to pressure on non-oil and consumption-based revenue streams, even with a large overall payout.
