…statutory revenue rises by N246.38bn, while VAT receipts fall by N17.97bn in September
By Gloria Ikibah 
The Federal Government, state governments and local government councils have shared N2.428 trillion from a gross revenue of N3.913 trillion generated for September 2026.
The allocation was announced in a communiqué issued after the Federation Account Allocation Committee (FAAC) meeting held in on Thursday and chaired by the Accountant-General of the Federation, Shamsudeen Ogunjimi.
According to the Federal Ministry of Finance, the Federal Government received N832.242 billion, while the states received N799.872 billion and local government councils got N560.660 billion.
Oil-producing states received an additional N236.049 billion as their 13 per cent derivation revenue from mineral resources.
The communiqué also disclosed that N131.758 billion was allocated for the cost of revenue collection, while N1.353 trillion was set aside for transfers, refunds and savings.
The gross revenue available from Value Added Tax (VAT) for September stood at N816.872 billion, compared with N834.843 billion shared in the preceding month, representing a decline of N17.972 billion.
Of the September VAT revenue, N23.576 billion was allocated for the cost of collection, while N36.709 billion went towards transfers, refunds and savings.
The remaining N756.587 billion was distributed among the three tiers of government.
The Federal Government received N75.659 billion, the states got N416.123 billion, while local government councils received N264.805 billion.
The decline in VAT receipts came amid an increase in gross statutory revenue available for distribution during the period.
The communiqué showed that gross statutory revenue for September increased to N3.097 trillion from N2.850 trillion in the preceding month, representing an increase of N246.384 billion.
From the amount, N106.182 billion was allocated for the cost of collection, while N1.316 trillion was earmarked for transfers, refunds and savings.
The remaining distributable statutory revenue of approximately N1.672 trillion was shared among the beneficiaries.
The Federal Government received N756.583 billion, the state governments got N383.749 billion, while local government councils received N295.855 billion. Oil-producing states received N236.049 billion as 13 per cent derivation revenue.
The ministry said receipts from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty recorded significant increases during the period.
However, revenue from Companies Income Tax, Stamp Duties Tax, Value Added Tax, mineral royalties, gas flaring penalties, rents, gas flaring fees and miscellaneous oil revenue declined considerably.
The figures indicate mixed performance across the revenue streams that contribute to the Federation Account, with higher statutory receipts offsetting the decline in VAT revenue.
The total distributable revenue comprised N1.672 trillion in statutory revenue and N756.587 billion from VAT, bringing the overall allocation to N2.428 trillion, according to the ministry.
