FG, States, LGs Share N2.428trn from N3.913trn Gross Revenue for September 2026<\/p>\n
The Federation Account Allocation Committee (FAAC) has shared a total of N2.428 trillion to the three tiers of government as Federation Allocation for September 2026, from a gross total of N3.913 trillion.<\/p>\n
The allocation was made at the FAAC October 2026 meeting chaired by the Accountant General of the Federation, Shamsudeen B. Ogunjimi.<\/p>\n
A communique issued at the end of the meeting showed that from the distributable sum, the Federal Government received N832.242 billion, States got N799.872 billion, Local Government Councils received N560.660 billion, while Oil Producing States got N236.049 billion as 13% derivation.<\/p>\n
The communique added that N131.758 billion was allocated for cost of collection, while N1.352 trillion was earmarked for transfers, refunds and savings.<\/p>\n
For Value Added Tax (VAT), gross revenue for September was N816.872 billion, a decrease of N17.972 billion compared to N834.843 billion recorded in August.<\/p>\n
From the VAT revenue, N23.576 billion was allocated for cost of collection and N36.709 billion for transfers, refunds and savings. The remaining N756.587 billion was shared with the Federal Government receiving N75.659 billion, States N416.123 billion and LGs N264.805 billion.<\/p>\n
Gross Statutory Revenue for September stood at N3.096 trillion, higher than N2.850 trillion recorded in the previous month by N246.384 billion.<\/p>\n
From the amount, N106.182 billion was allocated for cost of collection and N1.316 trillion for transfers, refunds and savings.<\/p>\n
The balance of N1.672 trillion was distributed with the Federal Government getting N756.583 billion, States N383.749 billion, LGCs N295.855 billion and derivation (13% mineral producing states) N236.049 billion.<\/p>\n
According to the communique, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Petroleum Royalties, Import Duty, CET Levies and Excise Duty increased significantly, while Companies Income Tax (CIT), Value Added Tax (VAT), Mineral Royalties and Gas Flared Penalty decreased.<\/p>\n
Total distributable revenue for the month stood at N1.672 trillion from Statutory Revenue and N756.587 billion from VAT, bringing the total to N2.428 trillion.<\/p>\n
This was contained in a statement signed by the Chief Information Officer of the Federal Ministry of Finance, Francis Kusa.<\/p>\n","protected":false},"excerpt":{"rendered":"
FG, States, LGs Share N2.428trn from N3.913trn Gross Revenue for September 2026 The Federation Account Allocation Committee (FAAC) has shared a total of N2.428 trillion to the three tiers of government as Federation Allocation for September 2026, from a gross total of N3.913 trillion. The allocation was made at the FAAC October 2026 meeting chaired […]<\/p>\n","protected":false},"author":4,"featured_media":0,"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":[2475,3477],"class_list":["post-152836","post","type-post","status-publish","format-standard","category-finance","category-news","category-the-nation","tag-accountant-general-of-the-federation","tag-federation-account-allocation-committee"],"yoast_head":"\n