The Federation Account Allocation Committee has shared a total of N2.04 trillion among the Federal Government, states, and local government councils as revenue for March 2026.
This represents an increase of about N150 billion compared to the N1.89 trillion distributed in February, driven mainly by higher statutory inflows.
The figures were disclosed in a statement by the Office of the Accountant General of the Federation, signed by Director of Press and Public Relations, Bawa Mokwa.
According to the breakdown, the total distributable revenue of N2.036 trillion consisted of N1.32 trillion from statutory revenue, N515.39 billion from Value Added Tax (VAT), and N200 billion as augmentation.
From the total allocation; the Federal Government received N789.16 billion, states received N657.60 billion, local Government Councils got N468.83 billion, while oil-producing states received N120.76 billion as derivation.
The communiqué noted that total gross revenue for March stood at N2.364 trillion, from which deductions for cost of collection, transfers, refunds, and savings were made before distribution.
It also showed that statutory revenue rose by N137.91 billion compared to February, helping to boost overall allocations.
However, VAT revenue recorded a slight decline, dropping to N664.43 billion from the previous month.
The report further indicated improvements in Company Income Tax, Capital Gains Tax, Stamp Duties, and Excise Duty, while oil-related revenues such as Petroleum Profit Tax and royalties declined, reflecting continued volatility in the oil sector.
