By ADEOLA AKINBOBOLA

The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.257 trillion to the Federal, States and the Local Government Councils for the month of April 2026.

Mr Bawa Mokwa, Director Press and Public Relations in the Office of the Auditor-General of the Federation (OAGF), revealed this in a statement issued on Monday in Abuja.

In the statement, Mokwa said the revenue was shared at the May 2026 FAAC meeting held in Abuja recently.

He revealed that, 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 billion.

Mokwa said a communiqué issued by the FAAC indicated that total gross revenue of N3.184 trillion was available in the month of April 2026.

“A total deduction for cost of collection was N113.756 billion while total transfers, refunds and savings was N813.839 billion.

“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,’’ Mokwa quoted the communiqué.

He quoted the communique further: “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 per cent of mineral revenue) was shared to the benefiting State as derivation revenue.

“On the N1.260 trillion distributable statutory revenue, 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 per cent 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 States received N66.800 billion and the Local Government received N51.500 billion.

He further disclosed that, 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.

Mokwa added that Excise Duty and CET Levies decreased marginally. (NAN)

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