FG, States, and LGAs Share N1.894tr from February Revenue
By Patience Ikpeme
The three tiers of government have shared a total of N1.894 trillion as revenue generated in February 2026. This money was distributed during the Federation Account Allocation Committee (FAAC) meeting held in Abuja this March to provide the Federal, State, and Local Governments with the funds needed to run their various offices and projects.
A statement signed by the Director of Press and Public Relations, Mr. Bawa Mokwa, showed that the total money available for the month was actually N2.230 trillion. However, before the money was shared, the government deducted N77.302 billion as the cost of collecting the revenue, while another N259.078 billion went into transfers, refunds, and savings.
The shared amount of N1.894 trillion was made up of two main parts: N1.274 trillion from the country’s basic statutory revenue and N619.119 billion from Value Added Tax (VAT).
The communiqué gave a breakdown of how the money was divided among the different levels of government. Out of the total N1.894 trillion, the Federal Government took home N675.088 billion, while the 36 State Governments shared N651.525 billion. The 774 Local Government Councils received N456.467 billion. Additionally, states that produce minerals were given an extra N110.949 billion as their 13 percent derivation share.
When looking specifically at the N1.274 trillion statutory revenue, the Federal Government received N613.174 billion, States received N311.010 billion, and Local Governments got N239.776 billion. The remaining N110.949 billion from this portion was sent to the oil and mineral-producing states.
For the N619.119 billion that came from VAT, the Federal Government received N61.912 billion, the State Governments took the lion’s share of N340.515 billion, and the Local Government Councils received N216.692 billion.
The report also noted that the revenue collected in February was actually lower than what was made in January. For example, the money from VAT dropped by more than N414 billion compared to the previous month. Similarly, the main statutory revenue fell by about N395 billion.
Explaining the changes in the nation’s income, the committee stated that money from Oil and Gas Royalties and Excise Duty went up significantly. Import Duty also saw a small increase. On the other hand, several other taxes saw a big drop.
“Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), CGT and SDT and Value Added Tax (VAT) decreased substantially,” the committee noted in its report.
Despite these drops in some tax areas, the shared amount remains a vital lifeline for the states and local governments to pay salaries and fund public services across Nigeria.
