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🇳🇬 Nigeria /Economy & Trade

FAAC shares N2.04tn for March as revenue rises by N150bn

From The Punch · (2h ago) English

Summarized and contextualized by DistantNews.

TLDR

  • Nigeria's Federation Account Allocation Committee shared N2.04 trillion in March 2026, an increase of N150 billion from February.
  • The distributable revenue comprised N1.32 trillion from statutory inflows, N515.39 billion from VAT, and N200 billion as augmentation.
  • The Federal Government received N789.16 billion, states N657.60 billion, and local governments N468.83 billion, with oil-producing states getting N120.76 billion.

The Federation Account Allocation Committee (FAAC) has announced the distribution of N2.04 trillion for March 2026, marking a significant increase from the previous month. This positive fiscal development, detailed by the Office of the Accountant General of the Federation, highlights a robust inflow of statutory revenues, bolstered by Value Added Tax (VAT) and augmentation funds.

A total sum of N2.036tn, being March 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.

— Bawa MokwaDirector of Press and Public Relations, Office of the Accountant General of the Federation, announcing the total distributable revenue for March 2026.

The breakdown reveals a substantial allocation to all tiers of government, with the Federal Government securing the largest share, followed by the states and local government councils. Notably, oil-producing states also received their constitutional derivation share, underscoring the continued importance of oil revenues in the national economy, even as non-oil tax performance shows improvement.

gross statutory revenue of N1.699tn was received for the month of March 2026.

— CommuniquéDescribing the performance of statutory revenue in March 2026, highlighting an increase from February.

This distribution reflects a healthy fiscal position, with gross revenue exceeding N2.3 trillion before deductions for collection costs and transfers. The increase in statutory revenue, particularly from non-oil sources like Companies Income Tax and Capital Gains Tax, signals a positive trend in the nation's tax collection efforts. The Punch, as a leading voice in Nigerian financial reporting, views this as a testament to improved economic activity and effective revenue management, crucial for funding national development projects and public services.

gross revenue of N664.425bn was available from the Value Added Tax in March 2026.

— StatementDetailing the VAT revenue collected in March 2026.
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Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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