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The Federal Government, state governments and local government councils have received a combined ₦2.428 trillion from the Federation Account following an improvement in statutory revenue, providing additional funds for public administration and development projects across the country.
The distribution, approved at the October meeting of the Federation Account Allocation Committee (FAAC) in Abuja, represents an increase of ₦90 billion compared with the ₦2.338 trillion shared in September. The revenue covers earnings generated in September 2026.
Figures released after the meeting showed that the Federal Government received ₦832.242 billion, while the 36 state governments were allocated ₦799.872 billion. The 774 local government councils received ₦560.660 billion, reflecting increases across all three tiers of government.
Oil-producing states also recorded a significant rise in their earnings, with derivation revenue increasing to ₦236.049 billion from ₦184.388 billion in the previous distribution. The allocation represents the 13 per cent derivation entitlement provided to eligible states from mineral revenue.
The improvement was largely driven by higher receipts from petroleum-related taxes, oil royalties, import duties and other statutory revenue sources. Gross statutory revenue climbed to ₦3.096 trillion in September from ₦2.850 trillion in August, representing an increase of ₦246.384 billion.
However, revenue from Value Added Tax (VAT) moved in the opposite direction, falling to ₦816.872 billion from ₦834.843 billion in the preceding month. Increased deductions, transfers, refunds and savings also reduced the amount available for distribution, limiting the overall growth in allocations.
Despite the latest increase, the ₦2.428 trillion disbursement remained below the ₦3.007 trillion shared in August, which marked a record high. The latest figures highlight the continued influence of fluctuations in oil-related earnings, tax collections and other statutory revenue streams on the funds available to Nigeria’s three tiers of government.
