FG, States, Local Councils Share N2.338 Trillion August Revenue
By Patience Ikpeme
The Federal Government, the 36 States and Local Government Councils have shared a total of N2.338 trillion, being the Federation Account Revenue for August 2026.
The money was shared at the September 2026 meeting of the Federation Account Allocation Committee (FAAC), which held in Abuja.
Mr. Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant General of the Federation, said in a statement issued on Thursday that the N2.338 trillion distributable revenue was made up of N1.565 trillion from statutory revenue and N773.233 billion from Value Added Tax (VAT).
According to a communiqué issued by FAAC, a total gross revenue of N3.685 trillion came into the Federation Account in August 2026. From this amount, N125.142 billion was deducted as cost of collection, while N1.221 trillion went into transfers, refunds and savings.
The communiqué explained that gross statutory revenue for August 2026 stood at N2.850 trillion, which was lower than the N4.359 trillion recorded in July 2026 by N1.508 trillion. On the other hand, gross VAT revenue rose to N834.843 billion in August, up from N793.968 billion in July, an increase of N40.875 billion.
Breaking down how the N2.338 trillion was shared, the communiqué said the Federal Government received N804.897 billion, the States got N794.313 billion, while Local Government Councils received N555.142 billion. In addition, N184.388 billion, representing 13 per cent of mineral revenue, was paid to oil-producing states as derivation revenue.
From the N1.565 trillion statutory revenue, the Federal Government took N727.573 billion, the States received N369.035 billion, and the Local Government Councils got N284.511 billion, aside from the N184.388 billion derivation fund paid to benefiting states.
On the VAT side, out of the N773.233 billion shared, the Federal Government received N77.323 billion, the States got N425.278 billion, while Local Government Councils received N270.632 billion.
The communiqué also noted that revenue from Petroleum Profit Tax, Hydrocarbon Tax, Value Added Tax, CET Levies and Excise Duty rose significantly in August 2026.
However, income from Companies Income Tax, Capital Gains Tax, Stamp Duty Tax, Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental of Gas Flared Fee and Miscellaneous Oil Revenue dropped considerably during the same period.
