Nigeria distributes N2.338 trillion in August revenue

Nigeria’s Federation Account Allocation Committee (FAAC) has distributed N2.338 trillion in revenue generated during August 2026 among the federal government, state governments, and local councils. This figure represents a 22.2 percent decline from the N3.007 trillion distributed in the previous month.

The decrease was primarily driven by a significant drop in gross statutory revenue, which fell by N1.508 trillion (34.6 percent) to N2.850 trillion in August, compared to N4.359 trillion in July. Conversely, Value Added Tax (VAT) revenue saw an increase, rising by N40.875 billion to reach a gross total of N834.843 billion.

Of the total N2.338 trillion distributed, the Federal Government received N804.897 billion, state governments collectively received N794.313 billion, and local government councils were allocated N555.142 billion. Additionally, beneficiary states received N184.388 billion as derivation revenue, representing 13 percent of mineral revenue.