By Onu Okorie
A communiqué issued by the Federation Account Allocation Committee FAAC indicated that total gross revenue of N3.184 trillion was available in the month of April 2026.
The communique signed by the Director, Press and Public Relations Bawa Mokwa explained that the revenue was shared at the May 2026 Federation Account Allocation Committee FAAC, meeting held in Abuja Recently.
Total deduction for cost of collection was N113.756 billion while total transfers, refunds and savings was N813.839 billion.
According to the communiqué, gross statutory revenue of N2.378 trillion was received for the month of April 2026. This was higher than the sum of N1.699 trillion received in the preceeding month by N678.224 billion.
Gross revenue of N806.617 billion was available from the Value Added Tax (VAT) in April 2026. This was higher than the N664.425 billion available in the month of March 2026 by N142.192 billion.
The communiqué stated that from the N2.257 trillion total distributable revenue, the Federal Government received total sum of N787.351 billion and the State Governments received total sum of N772.360 billion.
The Local government Council received N540.152 billion, while the sum of N157.254 billion 13% of mineral revenue, was shared to the benefiting State as derivation revenue.
On the N1.260 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N580.942 billion and the State Governments received N294.661 billion.
The Local Government Councils received N227.172 billion and the sum of N157.254 billion 13% of mineral revenue was shared to the benefiting States as derivation revenue.
From the N747.088 billion distributable Value Added Tax VAT revenue, the Federal Government received N74.709 billion, the State Governments received N410.898 billion and the Local Government Councils received N261.481 billion.
The Federal Government received N131.700 billion from the N250.000 billion, the State Government received N66.800 billion and Local Government received N51.500 billion.
In April 2026, Companies income Tax CIT, CGT, SDT, Import Duty, Oil and Gas Royalty and Value Added Tax VTA, increased significantly while Petroleum Profit Tax PPT, Hydrocarbon Tax HT, decreased considerably. Excise Duty and CET Levies decreased marginally. The N2.257 trillion total distributable revenue comprised distributable statutory revenue of N1.260 trillion , distributable Value Added Tax VAT revenue of N747.088 billion and Augmentation N250.000 billion.