By George Omagbemi Sylvester
The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.03 trillion among the Federal Government, states, and local government councils as revenue allocation for March 2026.
The distribution was announced on April 22, 2026, following FAAC’s monthly meeting held in Abuja, where revenue performance and allocations were reviewed.
According to the communiqué, the total distributable revenue comprised ₦1.32 trillion from statutory revenue, ₦515.39 billion from Value Added Tax (VAT), and ₦200 billion as augmentation.
From the total allocation, the Federal Government received ₦789.15 billion, states got ₦657.59 billion, while local government councils received ₦468.82 billion.
FAAC also disclosed that VAT revenue declined slightly in March, with ₦664.43 billion recorded, lower than the ₦668.45 billion generated in February, marking a continued drop in VAT inflows.
The committee noted that while revenues from Company Income Tax (CIT), Capital Gains Tax (CGT), and excise duties increased, earnings from oil-related sources and VAT showed declines during the period.
The figures highlight Nigeria’s ongoing fiscal dependence on statutory revenue and shared allocations, while the repeated drop in VAT signals underlying pressures in consumer spending and economic activity across the country.
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