FAAC Shares N2.338 Trillion for August 2026 Amid Revenue Drop

Nigeria's Federation Account Allocation Committee distributed N2.338 trillion in August 2026 revenue to federal, state, and local governments, marking a significant decline from the previous month. The allocation, shared at the September 2026 FAAC meeting in Abuja, reflected a sharp drop in statutory revenue despite a rise in Value Added Tax collections. According to the FAAC communiqué, gross statutory revenue fell by N1.508 trillion, or about 34.6 percent, from N4.359 trillion in July to N2.850 trillion in August. This decline drove the overall reduction in distributable revenue. In contrast, gross VAT revenue increased by N40.875 billion, or 5.1 percent, from N793.968 billion in July to N834.843 billion in August. The total distributable revenue of N2.338 trillion comprised N1.565 trillion in statutory revenue and N773.233 billion in VAT proceeds. From this pool, the Federal Government received N804.897 billion, state governments received N794.313 billion, and local government councils received N555.142 billion. An additional N184.388 billion, representing 13 percent of mineral revenue, was distributed to oil-producing states as derivation revenue.