Ndubuisi Francis in Abuja
The Federation Account Allocation Committee (FAAC) has disbursed a complete of N2.428 trillion to the Federal Government, states and native authorities councils, as Federation Revenue grossed N3.913 trillion for September 2026.
FAAC shared the quantity throughout its October assembly in Abuja, Thursday, the Director of Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, stated in an announcement.
The N2.428 trillion September allocations surpassed the sum of N2.338 trillion shared within the previous month of August by N90 billion.
Citing the communiqué issued on the assembly, Mokwa stated from the N2.428 trillion distributable income, the Federal Government acquired N832.242 billion, state governments acquired N799.872 billion, whereas native authorities councils acquired N560.660 billion.
The sum of N236.049 billion went to grease mineral producing states as 13 per cent derivation income.
The N2.428 trillion complete distributable income for September comprised a distributable statutory income of N1.672 trillion and distributable Value Added Tax (VAT) income of N756.587 billion.
Although gross income was N3.913 trillion in September, complete deductions for price of assortment stood at N131.758 billion, whereas complete transfers, refunds and financial savings accounted for N1.352 trillion.
According to the communiqué, gross statutory income of N3.096 trillion was acquired for September 2026, an quantity larger than the sum of N2.850 trillion acquired within the preceeding month by N246.384 billion.
Value Added Tax (VAT) additionally posted a gross income of N816.872 billion in September, N17.972 billion, an quantity lower than the N834.843 billion recorded in August 2026.
However, from the N816.872 billion gross VAT income, distributable VAT income was N756.587 billion from which the Federal Government acquired N75.659 billion, state governments acquired N416.123 billion, and native authorities councils acquired N264.805 billion.
According to the figures, state and native authorities councils acquired bigger shares of distributable VAT income, whereas the Federal Government acquired a smaller share.
The communiqué additionally confirmed that gross statutory income rose in September, whereas VAT income declined in the course of the interval.
It equally emerged that gross statutory income stood at N3.096 trillion in September, up from N2.850 trillion in August, the N246.384 billion rise reflecting larger income obtainable from statutory sources.
Overall, FAAC attributed the modifications in income efficiency to will increase in some tax and petroleum-related income sources, alongside declines in others.
Petroleum Profit Tax (PPT), Hydrocarbon Tax, petroleum royalties, import responsibility, Common External Tariff (CET) levies and excise responsibility recorded vital will increase in September.
But Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties Tax (SDT), VAT, mineral royalties, gas-flaring penalties, rental gas-flaring charges and miscellaneous oil income declined in the course of the interval.
