The Federal Government, 36 states and 774 local government councils shared N2.428tn from the Federation Account in October 2026, representing an increase of N90bn, or 3.85 per cent, from the N2.338tn distributed in September.
The increase followed a recovery in statutory revenue, supported by improved receipts from petroleum-related taxes, royalties and import duties, despite a decline in Value Added Tax collections.
The allocation, which represents revenue generated in September, was approved at the October meeting of the Federation Account Allocation Committee held in Abuja.
This was disclosed in a statement issued on Thursday by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa.
According to the statement, “A total sum of N2.428tn, being September 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.”
An analysis by The PUNCH showed that the latest distribution marked a modest recovery from the sharp decline recorded in September, when FAAC allocations fell by N669bn, or 22.2 per cent, from the record N3.007tn shared in August.
Despite the improvement, the October allocation remained N579bn, or 19.3 per cent, below the August peak, which was the highest monthly FAAC distribution in reviewed records dating back to 2019.
