The Federation Account Allocation Committee has distributed a total of ₦1.894 trillion as revenue for February 2026 among the federal, state and local governments.

The revenue was shared at the committee’s March 2026 meeting held in Abuja, according to a communiqué issued after the session.

The statement, signed by Bawa Mokwa, explained that the distributable revenue consisted of ₦1.274 trillion from statutory sources and ₦619.119 billion generated from Value Added Tax.

According to the communiqué, the total gross revenue available in February stood at ₦2.230 trillion before statutory deductions were applied.

From the gross figure, ₦77.302 billion was deducted as cost of collection, while ₦259.078 billion was allocated for transfers, refunds and savings, leaving the balance eventually distributed among the three tiers of government.

A breakdown of the allocation showed that the Federal Government of Nigeria received ₦675.088 billion from the total distributable revenue.

The 36 state governments collectively received ₦651.525 billion, while the 774 local government councils shared ₦456.467 billion.

In addition, oil-producing states received ₦110.949 billion as 13 per cent derivation revenue from mineral resources.

The report indicated that statutory revenue accounted for the largest share of the distributable funds.

From the ₦1.274 trillion statutory revenue, the federal government received ₦613.174 billion, the states received ₦311.010 billion, and local government councils were allocated ₦239.776 billion.

The oil-producing states also received the ₦110.949 billion derivation allocation from this statutory component.

Meanwhile, the ₦619.119 billion generated from VAT was distributed among the three tiers of government based on the existing revenue-sharing formula.

Under this arrangement, the federal government received ₦61.912 billion from VAT proceeds.

State governments received ₦340.515 billion from the tax, while the local government councils shared ₦216.692 billion.

The communiqué also highlighted trends in key revenue sources during the period under review.

It noted that oil and gas royalty as well as excise duty recorded noticeable increases in February.

However, revenues from Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Stamp Duties and Value Added Tax declined significantly during the month.

The report also indicated that import duty and the Common External Tariff recorded slight increases.

The Federation Account Allocation Committee meets monthly to distribute revenue accruing to the Federation Account among the three tiers of government in line with Nigeria’s revenue-sharing formula.