By Reloaded News Desk
The Federal Government, states and the 774 local government councils have shared ₦2.338 trillion in revenue generated into the Federation Account for August 2026.
The allocation was approved at the September meeting of the Federation Account Allocation Committee (FAAC) in Abuja.
According to the FAAC communiqué, the distributable amount comprised ₦1.565 trillion in statutory revenue and ₦773.233 billion from Value Added Tax.
The total gross revenue available for distribution stood at ₦3.685 trillion. Of that amount, ₦125.142 billion was deducted as the cost of collection, while ₦1.221 trillion was allocated to transfers, refunds and savings.
The gross statutory revenue generated in August stood at ₦2.850 trillion, down from ₦4.359 trillion recorded in July.
VAT revenue, however, increased to ₦834.843 billion in August from ₦793.968 billion in July.
From the ₦2.338 trillion distributed, the Federal Government received ₦804.897 billion, states received ₦794.313 billion and local government councils received ₦555.142 billion.
A further ₦184.388 billion was distributed to benefiting states as 13 per cent derivation revenue from mineral resources.
The figures underline the continuing importance of Federation Account allocations to the finances of Nigeria’s three tiers of government, particularly as states and local governments depend heavily on federally collected revenue to fund public services and government operations.
