FEDERATION ACCOUNT ALLOCATION COMMITTEE, FAAC: FG, STATES, LGCs SHARE N1.894 TRILLION NAIRA FOR FEBRUARY, 2026



The Federation Account Allocation Committee (FAAC) at its 2026 March 2026 meeting has shared N1.894 trillion naira to the three tiers of government for February 2026, from a gross total of N2.230 trillion naira.

From the stated amount inclusive of Gross Statutory Revenue and Value Added Tax (VAT), the Federal Government received N675.086 Billion naira, the States received N651.525 Billion naira, the Local Government Councils got N456.467 Billion naira, while the Oil Producing States received N110.949 Billion naira as Derivation.

The Communique issued by FAAC at the end of the meeting indicated that the Gross Statutory Revenue for February 2026 was N1.561 trillion naira, lower than the N1.957 trillion naira received in the previous month. Value Added Tax (VAT) revenue was N668.450 billion naira, with N619.119 billion naira distributed to the three tiers of government. Oil and Gas Royalty and Excise Duty increased, while Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, and Value Added Tax decreased.

FAAC attributed changes in revenue to various factors, including increases in Oil and Gas Royalty and Excise Duty, and decreases in other tax revenues.

Comments

Post a Comment

Popular posts from this blog

WAEC Announces Job Vacancies (Apply Now)

Image
The West African Examinations Council (WAEC) has announced multiple job openings across its Nigeria National Office, calling on qualified professionals to apply for positions that cut across administration, finance, auditing, and medical services. In a statement released from its Headquarters in Accra, Ghana, the Council said the recruitment exercise aims to strengthen operations in Nigeria and uphold WAEC’s standards in educational assessment across West Africa. Applications are to be submitted online via https://www.waecnigeria.org/jobs/applink on or before Tuesday, November 21, 2025 at 10:00 a.m. The Council noted that only shortlisted candidates will be contacted. General requirements WAEC emphasized that all applicants must: Be proficient in modern office software and web-based systems. Possess excellent communication, analytical, and interpersonal skills. Have five credits in WASSCE/SSCE/GCE ‘O’ Level, including English Language and Mathematics at a sitting, or six c...
Read more

Federal Ministry of Works Announces Recruitment 2025 (Nationwide)

Image
The Federal Ministry of Works is recruiting unemployed graduates and skilled artisans across Nigeria under its Capacity Building & On-Site Training Programme. Applicants must: - Be Nigerian citizens aged 18 to 35 years - Possess a BSc, BEng, BA, or HND in Mechanical Engineering or a related discipline - Be unemployed at the time of application - Have NYSC completion, exemption, or exclusion certificate What You Get – Monthly stipend – Hands-on training on federal projects – Mentorship & certification – Priority for future government/contractor roles Deadline: Not specified (apply early) How to Apply for Federal Ministry of Works Recruitment 2025 Qualified and interested applicants should submit their applications via email. Application Email: registryfmw@fmw.gov.ng Email Subject: Use the Job Title you are applying for as the subject of the email. Required Documents Curriculum Vitae (CV) Academic certificates NYSC certificate or exemption letter Recent passport photo...
Read more

APPLY: Nigerian Army Announces 2026 Recruitment Exercise For Short Service Intake

Image
The Nigerian Army has officially commenced applications for its Short Service Combatant Commission (SSC) Course 49/2026, inviting qualified Nigerians to apply and serve as commissioned officers . The recruitment, which began on October 9, 2025, will close on November 12, 2025, and is open to both serving military personnel and eligible civilians who meet the required qualifications. Applicants must be Nigerian citizens by birth, aged between 23 and 27 years as of January 9, 2026. Civilian candidates are also required to submit letters of attestation from credible individuals such as a Local Government Chairman, Secretary, or senior military/police officer not below the rank of Lieutenant Colonel or Assistant Commissioner of Police. Successful candidates will undergo intensive military training before commissioning into combat and combat-support roles within the Nigerian Army. Basic Requirements: Must be medically, physically, and mentally fit. Minimum height: 1....
Read more