The Federation Account Allocation Committee (FAAC) has distributed a total of N2.257 trillion to the Federal Government, state governments, and local government councils as revenue allocation for April 2026.
The disclosure was made in a statement issued by the Director of Press and Public Relations in the Office of the Accountant General of the Federation, Bawa Mokwa, following the May 2026 FAAC meeting held in Abuja.
According to the statement, the total distributable revenue consisted of N1.260 trillion in statutory revenue, N747.088 billion from Value Added Tax (VAT), and an augmentation of N250 billion, The News Edition reports.
FAAC reported that total gross revenue available for the month stood at N3.184 trillion. From this amount, N113.756 billion was deducted as the cost of collection, while N813.839 billion was allocated to transfers, refunds, and savings.
The committee revealed that gross statutory revenue for April 2026 amounted to N2.378 trillion, representing an increase of N678.224 billion compared to the N1.699 trillion recorded in March 2026.
Similarly, VAT revenue rose significantly to N806.617 billion in April, up by N142.192 billion from the N664.425 billion generated in the previous month.
The increase in revenue was attributed to improved collections from several key sources, including Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties Tax (SDT), import duties, oil and gas royalties, and Value Added Tax.
However, collections from Petroleum Profit Tax (PPT) and Hydrocarbon Tax (HT) recorded notable declines during the period. Excise duties and Common External Tariff (CET) levies also posted marginal decreases.
Of the N2.257 trillion shared among the three tiers of government, the Federal Government received N787.351 billion, while state governments were allocated N772.360 billion.
Local government councils received N540.152 billion, while oil-producing states shared N157.254 billion as derivation revenue, representing 13 per cent of mineral revenue.
From the N1.260 trillion statutory revenue component, the Federal Government received N580.942 billion, states received N294.661 billion, and local governments got N227.172 billion. The derivation allocation of N157.254 billion was also distributed to eligible states.
For the N747.088 billion VAT revenue, the Federal Government received N74.709 billion, state governments received N410.898 billion, while local government councils received N261.481 billion.
The N250 billion augmentation was distributed with the Federal Government receiving N131.700 billion, states receiving N66.800 billion, and local governments receiving N51.500 billion.
The latest allocation highlights continued growth in federally collected revenues and provides a significant fiscal boost to the three tiers of government as they implement budgetary and developmental programmes across the country.