FAAC Allocates N2.036 Trillion to Nigeria's Governments

ABUJA, Nigeria - The Federation Account Allocation Committee (FAAC) distributed a total of N2.036 trillion to Nigeria's federal, state, and local governments during its April 2026 meeting in Abuja, drawing from revenues generated in March.

The allocation, announced in a statement from the Office of the Accountant General of the Federation, marked an increase from the previous month's distribution. It stemmed from a gross revenue of N2.364 trillion, after deductions of N81.084 billion for collection costs and N246.872 billion for transfers, refunds, and savings. The meeting was chaired by Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy.

The federal government received N789.159 billion, representing about 38.8 percent of the total. State governments were allocated N657.596 billion, or roughly 32.3 percent, while local government councils got N468.826 billion, accounting for approximately 23 percent. Oil-producing states additionally received N120.759 billion as 13 percent derivation revenue from mineral sources.

This distributable amount comprised N1.320 trillion from statutory revenue, N515.391 billion from value-added tax (VAT), and N200 billion in...