Tax Revenue Growth Boosts April FAAC Payout To N2.25tn

The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.257tn 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 N2.257tn total distributable revenue comprised distributable statutory revenue of N1.260tn, distributable Value Added Tax (VAT) revenue of N747.088bn and Augmentation N250bn.

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

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

“Gross statutory revenue of N2.378tn was received for the month of April 2026. This was higher than the sum of N1.699tn received in the preceding month by N678.224bn.

“Gross revenue of N806.617bn was available from the Value Added Tax (VAT) in April 2026. This was higher than the N664.42bn available in the month of March 2026 by N142.192bn,’’ Mokwa quoted the communiqué.

He quoted the communique further: “From the N2.257tn total distributable revenue, the Federal Government received a total sum of N787.351bn and the State Governments received a total sum of N772.36bn.

“The Local government Council received N540.152bn, while the sum of N157.254bn (13 per cent of mineral revenue) was shared with the benefiting State as derivation revenue.

“On the N1.26tn distributable statutory revenue, the Federal Government received N580.94bn, and the State Governments received N294.66bn.

“The Local Government Councils received N227.17bn, and the sum of N157.25bn (13 per cent of mineral revenue) was shared among the benefiting States as derivation revenue.

“From the N747.08bn distributable Value Added Tax (VAT) revenue, the Federal Government received N74.709bn, the State Governments received N410.898bn, and the Local Government Councils received N261.48bn.

“The Federal Government received N131.7bn from the N250bn, the States received N66.8bn, and the Local Government received N51.5bn.

He further disclosed that, in April 2026, Companies Income Tax (CIT), CGT, SDT, Import Duty, Oil and Gas Royalty and Value Added Tax (VAT) increased significantly, while Petroleum Profit Tax (PPT) and Hydrocarbon Tax (HT) decreased considerably.

Mokwa added that Excise Duty and CET Levies decreased marginally.