The Federation Account Allocation Committee has shared a total of N1.894 trillion as Federation Account revenue for February 2026 among the Federal Government, state governments and local government councils.
The revenue distribution was confirmed in a statement issued on Friday by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa.
According to the statement, the distributable revenue comprised N1.274 trillion derived from statutory revenue and N619.119 billion generated from Value Added Tax (VAT).
The communiqué also revealed that a total gross revenue of N2.230 trillion accrued to the Federation Account in February.
From this amount, N77.302 billion was deducted as cost of collection, while N259.078 billion was set aside for transfers, refunds and savings before the remaining funds were distributed among the three tiers of government.
Further analysis of the figures showed that gross statutory revenue recorded a decline during the period.
The statement indicated that N1.561 trillion was realised as statutory revenue in February 2026, representing a decrease of N395.138 billion when compared to the N1.957 trillion generated in January.
Similarly, Value Added Tax collections also dropped significantly within the same period.
VAT revenue for February stood at N668.450 billion, which was N414.710 billion lower than the N1.083 trillion recorded in January.
From the N1.894 trillion distributable revenue, the Federal Government received N675.088 billion, while state governments shared N651.525 billion.
Local government councils across the country received N456.467 billion.
In addition, the sum of N110.949 billion, representing 13 per cent derivation revenue from mineral resources, was distributed among states that benefit from oil and gas production.
A breakdown of the statutory revenue component showed that the Federal Government received N613.174 billion, while the state governments received N311.010 billion.
Local government councils were allocated N239.776 billion from the statutory revenue pool, in addition to the derivation revenue shared among the eligible states.
From the N619.119 billion realised from Value Added Tax, the Federal Government received N61.912 billion.
State governments received the largest share of N340.515 billion, while local government councils received N216.692 billion.
The communiqué further noted that revenue from oil and gas royalties as well as excise duties increased significantly during the month under review.
However, several major revenue sources recorded declines.
These include Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Stamp Duties and Value Added Tax.
The statement also indicated that receipts from import duty and the Common External Tariff recorded slight increases during the period.
The monthly allocation from the Federation Account remains the primary source of funding for the three tiers of government in Nigeria, supporting public expenditure, infrastructure development and the delivery of essential services across the country.
