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The Federal Government, states and local government councils have shared N2.338 trillion in revenue for August 2026, the Federation Account Allocation Committee (FAAC) has announced.
The disclosure was contained in a statement issued on Thursday in Abuja by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation.
According to the statement, the total distributable revenue comprised N1.565 trillion in statutory revenue and N773.233 billion from Value Added Tax (VAT).
The committee said total gross revenue of N3.685 trillion accrued to the Federation Account in August, while N125.142 billion was deducted as the cost of collection. A further N1.221 trillion was deducted for transfers, refunds and savings.
Mokwa said gross statutory revenue stood at N2.850 trillion, representing a decline of N1.508 trillion from the N4.359 trillion recorded in July.
In contrast, gross VAT revenue rose to N834.843 billion in August from N793.968 billion in July, representing an increase of N40.875 billion.
From the total distributable revenue of N2.338 trillion, the Federal Government received N804.897 billion, while state governments received N794.313 billion and local government councils received N555.142 billion.
A further N184.388 billion, representing the 13 per cent derivation revenue from mineral resources, was shared among benefiting states.
From the N1.565 trillion statutory revenue, the Federal Government received N727.573 billion, states received N369.035 billion and local governments received N284.511 billion, while N184.388 billion went to benefiting states as derivation revenue.
Of the N773.233 billion distributable VAT revenue, the Federal Government received N77.323 billion, states got N425.278 billion and local governments received N270.632 billion.
FAAC said increases were recorded in Petroleum Profit Tax, Hydrocarbon Tax, VAT, Customs and Excise Duty revenues during the month, while Companies Income Tax, Capital Gains Tax, Stamp Duty Tax, petroleum and mineral royalties and other revenue sources declined.
