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FAAC Allocates N1.89 Trillion to Government Levels for February 2026

By Africazine

The federation account allocation committee (FAAC) has distributed N1.89 trillion in February to various levels of government in Nigeria.

This allocation was announced during the March 2026 FAAC meeting in Abuja, chaired by Wale Edun, the finance minister. The total gross revenue available for February was N2.23 trillion, with deductions leading to the distributable revenue of N1.89 trillion.

Nigeria’s February Revenue Distribution Breakdown

The federal government received N675.08 billion from the total distributable revenue. States shared N651.52 billion, while local governments received N456.46 billion. Additionally, N110.94 billion was allocated to oil-producing states as 13 percent derivation revenue from mineral resources.

From the gross revenue, N77.30 billion was deducted for the cost of collection, and N259.07 billion was set aside for transfers and refunds. This structured distribution highlights the financial allocations across various government tiers.

Nigeria: Key figures on February Revenue Distribution

  • N1.89 trillion total distributable revenue
  • N2.23 trillion total gross revenue
  • N675.08 billion received by the federal government
  • N651.52 billion shared by states
  • N456.46 billion received by local governments
  • N110.94 billion allocated to oil-producing states
  • N668.45 billion gross revenue from VAT
  • N1.56 trillion gross statutory revenue

Context of Revenue Changes in Nigeria

The gross revenue from value-added tax (VAT) in February was N668.45 billion, a decline from N1.08 trillion in January, indicating a decrease of N414.71 billion. This decline reflects broader trends in revenue generation, with significant reductions noted in petroleum profit tax, hydrocarbon tax, and other tax categories.

Despite these declines, there were notable increases in oil and gas royalty and excise duty during the same period. The fluctuations in revenue sources underscore the challenges faced by the Nigerian economy.

Upcoming Considerations for FAAC

  • Monitoring future revenue trends and allocations
  • Assessing the impact of tax declines on government funding
  • Evaluating the performance of oil and gas royalties

The recent FAAC distribution highlights the ongoing financial dynamics within Nigeria’s government structure.

FAAC Allocates N1.89 Trillion to Government Levels for February 2026

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