FAAC ALLOCATES RECORD ₦2.036 TRILLION FOR MARCH 2026 AS OYEDELE CHAIRS FIRST MEETING

FAAC ALLOCATES RECORD ₦2.036 TRILLION FOR MARCH 2026 AS OYEDELE CHAIRS FIRST MEETING


The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.036 trillion among the Federal Government, state governments, and local government councils as revenue for March 2026, marking one of the highest monthly disbursements in recent times.

The allocation was announced following the FAAC meeting chaired by the incoming Coordinating Minister of the Economy, Taiwo Oyedele, who presided over the session for the first time in his new role.

This development represents the second instance in 2026 that FAAC disbursements have exceeded the ₦2 trillion threshold, reflecting sustained high revenue inflows into the Federation Account.

According to an official statement issued by the Office of the Accountant General of the Federation and signed by the Director of Press and Public Relations, Bawa Mokwa, the total gross revenue available for March stood at ₦2.364 trillion. From this amount, deductions were made for the cost of collection, transfers, refunds, and savings before arriving at the distributable sum.

The breakdown shows that ₦81.084 billion was deducted as the cost of revenue collection, while ₦246.872 billion was allocated for transfers, refunds, and savings. An additional ₦200 billion was provided as augmentation to support the final distributable amount.

Out of the ₦2.036 trillion shared, the Federal Government received ₦789.159 billion, state governments received ₦657.596 billion, and local government councils were allocated ₦468.826 billion. Oil-producing states received ₦120.759 billion as 13 percent derivation revenue.

Further analysis of the statutory revenue component, which totaled ₦1.320 trillion, shows that the Federal Government received ₦632.260 billion, states received ₦320.691 billion, and local governments received ₦247.239 billion, while the derivation allocation remained ₦120.759 billion.

From the ₦515.391 billion generated through Value Added Tax (VAT), the Federal Government received ₦51.539 billion, states got ₦283.465 billion, and local governments received ₦180.387 billion.

The ₦200 billion augmentation was also distributed across the three tiers of government, with the Federal Government receiving ₦105.360 billion, states ₦53.440 billion, and local governments ₦41.200 billion.

The latest FAAC disbursement underscores the continued reliance of all tiers of government on centrally distributed revenue, amid ongoing discussions around fiscal reforms and revenue diversification in Nigeria.

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