FAAC shares ₦2.43trn to FG, States, LGAs as monthly allocations in September
Abuja, Oct. 2026 – The Federal Accounts Allocation Committee (FAAC) has shared ₦2.428 trillion among the three-tiers of government as monthly allocations for September 2016.
Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, announced this in a statement on Thursday.
The statement said the allocations were made at the just concluded October 2026 meeting of the FAAC) in Abuja.
It said the allocations were shared out of the total distributable revenue comprising ₦1.672 trillion from statutory revenue and ₦756.587 billion from Value Added Tax (VAT).
According to the FAAC communiqué, the Federation Account recorded gross revenue of ₦3.913 trillion in September, representing an increase of ₦246.384 billion from the ₦2.850 trillion recorded in August 2026.
Out of this amount, ₦131.758 billion was deducted as the cost of collection, while ₦1.352 trillion was thee cost of transfers, refunds and savings.
During the September allocations, the Federal Government received ₦832.242 billion, while state governments received ₦799.872 billion.
Local government councils received ₦560.660 billion, and ₦236.049 billion was allocated to eligible states as 13 per cent derivation revenue from mineral resources.
From the ₦1.672 trillion distributable statutory revenue, the Federal Government received ₦756.583 billion, state governments received ₦383.749 billion, and local government councils received ₦295.855 billion.
₦236.049 billion was shares as derivation revenue to beneficiary states.
From the ₦756.587 billion distributable VAT revenue, the Federal Government received ₦75.659 billion, state governments received ₦416.123 billion, and local government councils received ₦264.805 billion.
