The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion in revenue among the Federal Government, state governments and local government councils for September 2026.

The revenue was distributed at the October 2026 FAAC meeting held in Abuja, according to a statement issued on Friday by the spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa.

The total distributable revenue comprised N1.672 trillion from statutory revenue and N756.587 billion from Value Added Tax (VAT).

The statement disclosed that the country generated N3.913 trillion in gross revenue in September, while N131.758 billion was deducted as the cost of collection.

Transfers, refunds and savings amounted to N1.352 trillion.

According to the communiqué issued after the meeting, the Federal Government received N832.242 billion from the total distributable revenue, while state governments received N799.872 billion.

Local government councils received N560.660 billion, while N236.049 billion was shared among benefiting states as 13 per cent derivation revenue from mineral resources.

A breakdown of the statutory revenue allocation showed that the Federal Government received N756.583 billion, while state governments got N383.749 billion.

Local government councils received N295.855 billion from the statutory revenue, while the benefiting states shared N236.049 billion as derivation revenue.

From the N756.587 billion distributed as VAT revenue, the Federal Government received N75.659 billion, state governments got N416.123 billion, while local government councils received N264.805 billion.