In March 2026, the Federation Account Allocation Committee (FAAC) announced that a total of 1.894 trillion naira would be shared among the federal, state, and local governments. This money came from the revenue generated in February 2026.

The meeting, led by the Minister of Finance, Wale Edun, revealed that the total amount available for distribution was 2.230 trillion naira. After taking out 77.302 billion naira for collection costs and 259.078 billion naira for various transfers and refunds, the remaining amount was divided among the three levels of government and oil-producing states.

Out of the total distributable amount, the federal government received N675.086 billion, while state governments received a combined total of N651.525 billion, and local government areas were allocated N456.467 billion. Additionally, oil-producing states received N110.949 billion as derivation, which accounts for 13 percent of mineral revenue.

The Gross Statutory Revenue for February 2026 was recorded at N1.561 trillion, reflecting a decrease of N395.138 billion from the N1.957 trillion noted in January 2026. After deducting N50.564 billion for collection costs and N236.485 billion for transfers, interventions, and refunds, the distributable statutory balance amounted to N1.274 trillion.

From this statutory pool, the federal government received N613.174 billion, state governments were allocated N311.010 billion, local government councils received N239.776 billion, and oil-producing states obtained the N110.949 billion derivation allocation.

Lastly, the revenue from the Value Added Tax (VAT) in February 2026 was 668.450 billion naira, showing a significant drop from 1.083 trillion naira in January. After deducting 26.738 billion naira for collection costs and setting aside 22.593 billion naira for transfers and refunds, the remaining VAT balance to be distributed was 619.119 billion naira.