FAAC Disburses N1.894tn February Allocation to FG, States, LGs 

Ndubuisi Francis in Abuja 

The Federation Account Allocation Committee (FAAC) Friday shared a total sum of N1.894 trillion to the three tiers of government for the month of February 2026, from a gross revenue of N2.230 trillion.

The disbursement took place at the monthly meeting of the committee chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

From the N1.894 trillion distributable revenue, comprising Gross Statutory Revenue of N1.274 trillion and Value Added Tax (VAT) of N619.119 billion, the Federal Government received N675.086 billion, the 36 states received N651.525 billion, while the 774 local government councils got N456.467 billion.

Oil producing states received N110.949 billion as 13 per cent Derivation, (13 per cent  Mineral Revenue).

Citing the communiqué issued at the end of the meeting, the Assistant Director, Information and Public Relations, Mrs. Uloma Amadi, said the sum of N77.302 billion was for the cost of collection, while N259.078 billion was allocated for Transfers Intervention and Refunds.

The Gross Revenue available from VAT for the month of February was N668.450 billion, as against N1.083 trillion distributed in the preceeding month, resulting in a decrease of N414.710 billion.

No reason was given for the significant drop in VAT receipts.

From the stated amount, the sum of N26.738 billion was allocated for the cost of collection and the sum of N22.593 billion given for Transfers, Intervention and Refunds. 

The remaining sum of N619.119 billion was distributed to the three tiers of government, of which the Federal Government got N61.912 billion, the states received N340.515 billion, while local government councils got N216.692 billion.

It emerged that the Gross Statutory Revenue of N1.561 trillion received for the month of February was lower than the sum of N1.957 trillion received in the previous month by N395.138 billion.

From the stated amount, the sum of N50.564 billion was allocated for the cost of collection and a total sum of N236.485 billion for Transfers, Intervention and Refunds.

The balance of N1.274 trillion was distributed to the three tiers of government.

The Federal Government got N613.174 billion, states received N311.010 billion, while the sum of N239.776 billion was allocated to local governments councils, and N110.949 billion given as 13 per cent Derivation Revenue to  mineral producing states.

Oil and Gas Royalty and Excise Duty increased significantly in February, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT)/CGT and SDT and VAT decreased substantially.

Import Duty and CET Levies increased marginally.