Prosper Okoye
The Federation Account Allocation Committee (FAAC) has disbursed a total of N1.894 trillion to the three tiers of government for February 2026, the Federal Ministry of Finance announced on Friday.
Out of a gross revenue of N2.230 trillion collected during the month, the Federal Government received N675.086 billion, the states got N651.525 billion, and Local Government Councils (LGCs) received N456.467 billion.
Oil-producing states were paid an additional N110.949 billion as derivation.
Join our WhatsApp ChannelThe ministry said N77.302 billion was deducted as the cost of revenue collection, while N259.078 billion went to transfers, interventions, and refunds.
Revenue from Value Added Tax (VAT) fell to N668.450 billion in February, down N414.710 billion from January. From this, the Federal Government got N61.912 billion, states received N340.515 billion, and LGs shared N216.692 billion.
Similarly, gross statutory revenue dropped to N1.561 trillion from N1.957 trillion the previous month. After allocations for collection costs and interventions, the balance of N1.274 trillion was shared: federal government N613.174 billion, states N311.010 billion, LGs N239.776 billion, with N110.949 billion to oil-producing states.
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The ministry noted that oil and gas royalties and excise duties rose, while petroleum profit tax, hydrocarbon tax, companies’ income tax, capital gains tax, stamp duties, and VAT declined.
Prosper Okoye is a Correspondent and Research Writer at Prime Business Africa, a Nigerian journalist with experience in development reporting, public affairs, and policy-focused storytelling across Africa
