The Federal Government, states and local government councils have shared N2.428tn in September 2026 Federation Account revenue, up from N2.338tn distributed at the previous monthly meeting.
The allocation was approved at the Federation Account Allocation Committee’s October meeting in Abuja. It covers revenue generated in September, rather than October collections.
Punch reported the figures from a statement issued on Thursday by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation.
The Federal Government received N832.242bn, the 36 states received N799.872bn and the 774 local government councils received N560.660bn. Oil-producing states received a further N236.049bn as their 13 per cent derivation share.
The distributable total comprised N1.672tn in statutory revenue and N756.587bn in Value Added Tax revenue. The statement put gross statutory receipts at N3.096tn, compared with N2.850tn in August, while gross VAT receipts fell to N816.872bn from N834.843bn.
Cost-of-collection deductions amounted to N131.758bn, while transfers, refunds and savings totalled N1.352tn. Those deductions meant the gross amount collected was not the same as the sum available for distribution.
According to the statement, petroleum-related taxes and royalties, import duties, Common External Tariff levies and excise duties recorded increases. Companies Income Tax, Capital Gains Tax, Stamp Duties Tax and VAT were among the revenue sources that declined.
Source: Punch
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