Federal government, states, and local councils allocate N1.894 trillion jointly

The Federation Account Allocation Committee has allocated a total of N1.894 trillion to the federal, state, and local governments as their share of the Federation Allocation for February 2026, according to the Federal Ministry of Finance. This amount was derived from a total revenue of N2.230 trillion received during the month.

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The Federal Government's share of the allocation was N675.086 billion, while the states received N651.525 billion and the local government councils got N456.467 billion.

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In addition to their regular allocations, the oil-producing states received a 13% derivation of N110.949 billion from mineral revenue.

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A total of N77.302 billion was deducted as the cost of collection for revenue agencies, and N259.078 billion was set aside for transfers, intervention, and refunds.

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The gross revenue from Value Added Tax for February was N668.450 billion, which is a decrease of N414.710 billion from the N1.083 trillion distributed in the previous month.

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From the VAT revenue, N26.738 billion was allocated for the cost of collection, and N22.593 billion was set aside for transfers, intervention, and refunds.

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The remaining VAT revenue of N619.119 billion was distributed among the three tiers of government, with the Federal Government receiving N61.912 billion, states getting N340.515 billion, and local government councils receiving N216.692 billion.

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The Gross Statutory Revenue for February was N1.561 trillion, which is lower than the N1.957 trillion received in the previous month by N395.138 billion.

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From the Gross Statutory Revenue, N50.564 billion was allocated for the cost of collection, and N236.485 billion was set aside for transfers, intervention, and refunds.

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The balance of N1.274 trillion was then distributed, with the Federal Government receiving N613.174 billion, states getting N311.010 billion, and local governments receiving N239.776 billion, in addition to the N110.949 billion given to the oil-producing states as derivation.

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According to the ministry, there was a significant increase in oil and gas royalty and excise duty, but a substantial decrease in petroleum profit tax, hydrocarbon tax, companies income tax, and value-added tax.