The Federation Account Allocation Committee (FAAC) on Friday, shared the sum of N1.894 trillion as federation income to the Federal, States and Native Authorities Councils.
This was disclosed in a communiqué signed by Director (Press and Public Relations), Bawa Mokwa, after the FAAC assembly in Abuja.
The N1.894 trillion complete distributable income comprised distributable statutory income of N1.274 trillion and distributable Worth Added Tax (VAT) income of N619.119 billion.
FAAC indicated that complete gross income of N2.230 trillion was obtainable within the month of February 2026. Complete deduction for price of assortment was N77.302 billion whereas complete transfers, refunds and financial savings was N259.078 billion.
In response to the communiqué, gross statutory income of N1.561 trillion was acquired for the month of February 2026. This was decrease than the sum of N1.957 trillion acquired within the previous month by N395.138 billion.
Gross income of N668.450 billion was obtainable from the Worth Added Tax (VAT) in February 2026. This was decrease than the N1.083 trillion obtainable within the month of January 2026 by N414.710 billion.
The communiqué acknowledged that from the N1.894 trillion complete distributable income, the Federal Authorities acquired a complete sum of N675.088 billion and the State governments acquired a complete sum of N651,525 billion.
The Native authorities Council acquired N456.467 billion, whereas the sum of N110.949 billion (13% of mineral income) was shared amongst benefiting states as derivation income.
On the N1.274 trillion distributable statutory income, the communiqué acknowledged that the Federal authorities acquired N613.174 billion and the state governments acquired N311,010 billion.
The Native Authorities Councils acquired N239.776 billion and the sum of N110.949 billion (13% of mineral income) was shared amongst benefiting states as derivation income.
From the N619.119 billion distributable Worth Added Tax (VAT) income, the Federal Authorities acquired N61.912 billion, the state governments acquired N340.515 billion and the native councils acquired N216.692 billion.
In February 2026, Oil and Gasoline Royalty and Excise Responsibility elevated considerably whereas Petroleum Revenue Tax (PPT), Hydrocarbon Tax (HT), Corporations Revenue Tax (CIT), CGT and SDT and Worth Added Tax (VAT) decreased considerably.
Additionally, import responsibility and CET elevated marginally.