The Federal Government of Nigeria, in conjunction with state governments and local government councils, shared a total of N2.036 trillion as Federation Account revenue for March 2026.
The figures were contained in a statement issued by the spokesperson for the Office of the Accountant General of the Federation, Bala Mokwa. According to the statement, the total distributable revenue consisted of N1.320 trillion in statutory revenue, N515.391 billion generated from value-added tax (VAT), and N200 billion provided as augmentation.
A communiqué released by the Federation Account Allocation Committee revealed that gross statutory revenue increased to N1.699 trillion in March, representing a rise of N137.914 billion compared to the N1.561 trillion recorded in February.
In contrast, VAT revenue experienced a marginal decline, with N664.425 billion generated in March, slightly lower than the N668.450 billion recorded in the preceding month.
From the total distributable sum of N2.036 trillion, the federal government received N789.159 billion, while state governments were allocated N657.596 billion, and local government councils received N468.826 billion. Additionally, oil-producing states benefited from N120.759 billion as 13 percent derivation revenue.
A further breakdown shows that from the N1.320 trillion statutory revenue, the federal government received N632.260 billion, states were allocated N320.691 billion, and local government councils received N247.239 billion, with N120.759 billion set aside for derivation.
From the N515.391 billion VAT pool, the federal government received N51.539 billion, states were allocated N283.465 billion, and local government councils received N180.387 billion.
Similarly, the N200 billion augmentation was distributed as follows: N105.360 billion to the federal government, N53.440 billion to states, and N41.200 billion to local government councils.
The statement further indicated that revenue streams such as Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), and Excise Duty recorded notable increases during the period.
However, declines were observed in Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalties, import duties, and the Common External Tariff (CET), while VAT also recorded a slight drop.
