WED APRIL 22 2026-theGBJournal| Nigeria’s public finances showed renewed strength as a record N2.036 trillion was shared among the three tiers of government, marking the second time in 2026 that allocations have crossed the N2 trillion threshold.
Approved at the FAAC meeting chaired by Finance Minister Taiwo Oyedele today, the disbursement reflects a robust revenue inflow of N2.364 trillion for March, driven by strong statutory and VAT contributions.
Beyond the headline figure, the distribution underscores improving fiscal buffers for federal, state, and local governments—while also highlighting the growing importance of VAT and sustained oil-derived revenues in stabilising the federation account.
Key Highlights:
Total distributable revenue: N2.036 trillion
Distributable statutory revenue: N1.320 trillion
Distributable VAT revenue: N515.391 billion
Augmentation: N200 billion
Gross revenue inflow for March: N2.364 trillion
Cost of collection: N81.084 billion
Transfers, refunds, and savings: N246.872 billion
Derivation (13% to oil-producing states): N120.759 billion
Statutory Revenue Component (N1.320 trillion):
Federal: N632.260 billion
States: N320.691 billion
Local governments: N247.239 billion
Derivation: N120.759 billion
VAT Component (N515.391 billion):
Federal: N51.539 billion
States: N283.465 billion
Local governments: N180.387 billion
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