BY NKECHI NAECHE-ESEZOBOR—Total gross revenue generated by the federation reached ₦3.184 trillion in April 2026, prompting the Federation Account Allocation Committee (FAAC) to approve the distribution of ₦2.257 trillion to the three tiers of government.
The allocation, cleared during the May FAAC meeting in Abuja, saw the Federal Government receive ₦787.351 billion, the 36 state governments secure ₦772.360 billion, and the 774 local government councils take home ₦540.152 billion. An additional ₦157.254 billion was allocated to oil-producing states as 13 per cent derivation revenue.
Prior to distribution, a total of ₦113.756 billion was deducted from the gross earnings as the cost of collection, while ₦813.839 billion was set aside for transfers, refunds, and savings.
The latest figures highlight a substantial upswing in government revenue performance. Gross statutory revenue climbed to ₦2.378 trillion in April, a ₦678.224 billion increase from the ₦1.699 trillion recorded in March. Similarly, Value Added Tax (VAT) collections grew by ₦142.192 billion, rising to ₦806.617 billion compared to the previous month’s ₦664.425 billion.
The total distributable pool of ₦2.257 trillion was comprised of ₦1.260 trillion in statutory revenue, ₦747.088 billion from VAT, and a ₦250 billion augmentation. Key revenue streams including Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, Import Duty, and Oil and Gas Royalties all posted noticeable increases. Conversely, receipts from Petroleum Profit Tax (PPT) and Hydrocarbon Tax (HT) experienced declines.
The disbursement was carried out ahead of the release of finalized allocation breakdown statistics. Explaining the development, Mr. Bawa Mokwa, the spokesman for the Office of the Accountant General of the Federation (OAGF), stated that the funds were distributed early to prevent operational disruptions at the state level while FAAC’s technical team concludes the reconciliation of newly discovered irregularities in the figures.
The OAGF noted that the comprehensive breakdown of the May revenue distribution is expected to be published on Wednesday.
