The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion a few of the Federal Govt, 36 state governments and 774 native executive councils as profit for September 2026.
The Director of Press and Public Family members on the Place of work of the Accountant-Common of the Federation, Bawa Mokwa, disclosed this in a commentary issued on Thursday in Abuja following FAAC’s October assembly.
The distributable profit comprised N1.672 trillion in statutory profit and N756.587 billion from Price Added Tax (VAT), consistent with the commentary.
FAAC profit rises to N3.91 trillion
Mokwa mentioned overall gross profit of N3.913 trillion was once to be had for distribution in September, earlier than deductions for assortment prices, transfers, refunds and financial savings.
A complete of N131.758 billion was once deducted as the price of assortment, whilst transfers, refunds and financial savings amounted to N1.352 trillion.
- Gross statutory profit rose to N3.096 trillion in September, up by way of N246.384 billion from the N2.850 trillion recorded in August.
- Gross VAT profit stood at N816.872 billion in September, down from N834.843 billion in August.
- The decline in VAT profit amounted to N17.972 billion in comparison with the previous month.
- Petroleum Benefit Tax, Hydrocarbon Tax, petroleum royalties, import accountability, CET levies and excise accountability recorded vital will increase.
Corporations Source of revenue Tax, Capital Positive aspects Tax, Stamp Tasks, VAT, mineral royalties, gas-flaring consequences, gas-flaring charges and miscellaneous oil profit recorded declines, consistent with Mokwa.
The profit figures mirror combined performances around the other assets of presidency source of revenue, with statutory profit expanding whilst gross VAT collections declined.
Federal Govt receives N832.24 billion
Of the N2.428 trillion distributable profit, the Federal Govt won N832.242 billion, whilst state governments won N799.872 billion. Native executive councils won N560.660 billion.
- The reaping benefits states additionally shared N236.049 billion as 13% derivation profit from mineral sources.
- The statutory profit element was once disbursed one at a time a few of the 3 tiers of presidency and the reaping benefits states.
- The Federal Govt won N756.583 billion from the N1.672 trillion distributable statutory profit.
- State governments won N383.749 billion, whilst native executive councils won N295.855 billion.
From the N756.587 billion distributable VAT profit, the Federal Govt won N75.659 billion, states won N416.123 billion, and native executive councils won N264.805 billion.
The allocations display the respective stocks of the 3 tiers of presidency, along the derivation element paid to eligible states.
States’ FAAC allocations building up in Q2
Nairametrics previously reported that Nigeria’s 36 states received a combined N2.39 trillion from the Federation Account in the second one quarter of 2026.
That represented an building up of N259.41 billion, or 12.2%, from the N2.13 trillion received in the first quarter.
The rise got here as state governments persisted to depend on Federation Account allocations to fund public expenditure, together with infrastructure and different executive tasks.
The September allocation supplies every other per month distribution of federally gathered profit a few of the 3 tiers of presidency, with the volume to be had to each and every decided by way of the acceptable revenue-sharing preparations.