FG, States, LGs Share N2.58 Trillion for August 2026<\/p>\n
The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.58 trillion to the three tiers of government as federation allocation for August 2026.<\/p>\n
The allocation was made at the September 2026 FAAC meeting chaired by the Accountant-General of the Federation, Mr. Shamsedeen, from a gross revenue of N3.685 trillion. The distributable amount includes N240 billion from savings to augment revenue for the month.<\/p>\n
This was disclosed today in a communiqu\u00e9 issued at the end of the meeting and signed by the Head, Information and Public Relations, Federal Ministry of Finance, Efe Ovuakporie<\/p>\n
From the total distributable amount, the Federal Government received N804.897 billion, the 36 states received N794.313 billion, while the 774 Local Government Councils received N555.142 billion.<\/p>\n
In addition, N184.388 billion was shared as derivation revenue to oil-producing states, representing 13 per cent of mineral revenue.<\/p>\n
According to the communiqu\u00e9, N125.142 billion was deducted as cost of collection, while N1.221 trillion was allocated for Transfers, Intervention and Refunds.<\/p>\n
Gross revenue from Value Added Tax (VAT) for August 2026 stood at N834.843 billion, compared to N793.968 billion distributed in the preceding month, indicating an increase of N40.875 billion.<\/p>\n
From the VAT revenue, N100.545 billion was deducted for cost of collection, while N1.184 trillion was allocated for Transfers, Intervention and Refunds.<\/p>\n
The balance of N733.233 billion was distributed with the Federal Government receiving N77.323 billion, states receiving N425.278 billion, and local governments receiving N270.632 billion.<\/p>\n
Gross Statutory Revenue for August stood at N2.850 trillion, a decrease of N1.509 trillion from the N4.359 trillion received in July.<\/p>\n
From the amount, N24.597 billion was deducted for cost of collection and N37.014 billion for Transfers, Intervention and Refunds.<\/p>\n
The remaining N1.565 trillion was shared as follows: Federal Government – N727.573 billion, States – N369.035 billion, Local Government Councils – N284.511 billion. An additional N184.388 billion was shared as derivation to mineral-producing states.<\/p>\n
The Committee noted that revenue from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Value Added Tax (VAT), Customs and Excise Duties (CET) levies, and Excise Duty increased significantly during the period.<\/p>\n
However, revenue from Companies Income Tax\/Capital Gains Tax, (CIT\/CGT), Stamp Duty Tax (SDT), Petroleum Royalties, Mineral Royalties, Gas Flared Penalty, Import Duty, Rental, Gas Flared Fee and Miscellaneous Oil Revenue recorded considerable decreases.<\/p>\n
The total revenue distributable for August was drawn from Statutory Revenue of N1.565 trillion and VAT of N773.233 billion, bringing the total to N2.338 trillion before augmentation.<\/p>\n","protected":false},"excerpt":{"rendered":"
FG, States, LGs Share N2.58 Trillion for August 2026 The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.58 trillion to the three tiers of government as federation allocation for August 2026. The allocation was made at the September 2026 FAAC meeting chaired by the Accountant-General of the Federation, Mr. Shamsedeen, from […]<\/p>\n","protected":false},"author":4,"featured_media":152324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[5,18,20],"tags":[2475,3473,854,2562],"class_list":["post-152322","post","type-post","status-publish","format-standard","has-post-thumbnail","category-finance","category-news","category-the-nation","tag-accountant-general-of-the-federation","tag-august-2026","tag-faac","tag-federal-ministry-of-finance"],"yoast_head":"\n