The Federation Account Allocation Committee ([FAAC](https://en.wikipedia.org/wiki/Federation_Account_Allocation_Committee)) announced on Thursday that it will apportion N2.428 trillion for September 2026 among the three tiers of government – the [Federal Government](https://www.gov.ng/), state governments and local government councils – despite a sharp fall in collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), stamp duties and Value‑Added Tax (VAT).
Key figures from the communiqué released after the FAAC meeting in Abuja show that the total distributable pool consisted of N1.672 trillion from statutory revenue and N756.587 billion from VAT. This sum exceeds the N2.338 trillion shared in August by N90 billion.
**How was the N2.428 trillion divided?**
- The Federal Government received N832.242 billion.
- State governments were allocated N799.872 billion.
- Local government councils got N560.660 billion.
- An additional N236.049 billion was distributed to beneficiary states as a 13 percent derivation from mineral resources.
The communiqué also revealed that gross revenue for September stood at N3.913 trillion. From this, N131.758 billion was deducted as the cost of collection, while N1.352 trillion was earmarked for transfers, refunds and savings.
**What trends emerged in statutory and VAT revenue?**
- Gross statutory revenue rose to N3.096 trillion in September, up from N2.850 trillion in August – a gain of N246.384 billion.
- By contrast, gross VAT receipts slipped to N816.872 billion from N834.843 billion the month before, a decline of N17.972 billion.
A detailed breakdown of statutory revenue allocation showed the Federal Government receiving N756.583 billion, state governments N383.749 billion and local government councils N295.855 billion, with the same N236.049 billion derivation payment to the benefiting states.
From the distributable VAT pool, the Federal Government obtained N75.659 billion, state governments N416.123 billion, and local government councils N264.805 billion.
**Which revenue streams performed well?**
FAAC reported significant increases in collections from Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duties, Common External Tariff levies and excise duties during the month.
**Which revenue streams fell?**
Conversely, receipts from CIT, CGT, stamp duties, VAT, mineral royalties, gas‑flaring penalties and miscellaneous oil‑related revenues declined sharply.
The rise in statutory revenue was sufficient to lift the overall distributable amount, offsetting the downturn in VAT and other revenue sources.