The Federation Account Allocation Committee has shared a total of N1.894 trillion from the February 2026 Federation Account revenue among the federal, state and local governments.
This was contained in a communiqué released on Friday and signed by Bawa Mokwa, spokesperson for the Office of the Accountant-General of the Federation.
According to the statement, the funds were distributed during the March 2026 FAAC meeting held in Abuja.
The total distributable amount of N1.894 trillion consisted of N1.274 trillion in statutory revenue and N619.119 billion from Value Added Tax (VAT).
The communiqué also revealed that gross revenue of N2.230 trillion was available for February 2026.
From this, N77.302 billion was deducted as the cost of collection, while N259.078 billion was earmarked for transfers, refunds and savings.
FAAC reported that gross statutory revenue stood at N1.561 trillion in February, representing a decline of N395.138 billion compared to the N1.957 trillion recorded in January.
Similarly, VAT revenue dropped to N668.450 billion in February, which was N414.710 billion lower than the N1.083 trillion generated in January 2026.
From the N1.894 trillion distributable revenue, the federal government received N675.088 billion, state governments got N651.525 billion, while local government councils received N456.467 billion.
In addition, N110.949 billion, representing 13 percent of mineral revenue, was allocated to oil-producing states as derivation revenue.
Further breakdown shows that from the N1.274 trillion statutory revenue, the federal government received N613.174 billion, states received N311.010 billion, and local governments got N239.776 billion, while the N110.949 billion derivation revenue went to eligible states.
From the N619.119 billion VAT revenue, the federal government received N61.912 billion, states received N340.515 billion, and local governments got N216.692 billion.
The communiqué added that oil and gas royalties and excise duties increased during the period, while revenues from petroleum profit tax, hydrocarbon tax, companies’ income tax, capital gains tax, stamp duties and VAT recorded notable declines.
It also stated that import duty and the Common External Tariff (CET) saw slight increases during the month.