The Federal Government, 36 states and 774 local government councils shared N2.338 trillion in August 2026 revenue, representing a 22.2 per cent decline from the N3.007 trillion distributed in July.
The allocation was announced after the September meeting of the Federation Account Allocation Committee (FAAC), with the Office of the Accountant-General of the Federation attributing the decline largely to reduced statutory revenue.
Gross statutory revenue fell by N1.508 trillion, or 34.6 per cent, from N4.359 trillion in July to N2.850 trillion in August. However, Value Added Tax (VAT) revenue increased by N40.875 billion to N834.843 billion during the month.
Of the N2.338 trillion distributed, the Federal Government received N804.897 billion, states got N794.313 billion, while the 774 local government councils received N555.142 billion. Benefiting states also received N184.388 billion as 13 per cent derivation revenue.
The distributable revenue comprised N1.565 trillion in statutory revenue and N773.233 billion in VAT. While some revenue streams, including VAT, Petroleum Profit Tax and excise duty, recorded increases, Companies Income Tax, stamp duties, petroleum royalties and some other sources declined.
