By Muhammad Mamman
Nigeria’s revenue-sharing body, the Federal Accounts Allocation Committee (FAAC), has distributed a total of N1.894 trillion as revenue generated in February among the federal, state and local governments.
The allocation was announced after the committee’s monthly meeting in Abuja, where representatives of the federal government, the 36 states and the 774 local government councils agreed on the distribution formula.
According to the committee, the shared revenue comprised proceeds from statutory allocations, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange difference earnings.
From the total disbursement, the Federal Government of Nigeria received the largest share, while the 36 state governments and the local government councils also obtained their respective allocations in line with Nigeria’s revenue-sharing structure.
Officials said the revenue increase was driven largely by improved collections from VAT and other non-oil sources, although fluctuations in oil receipts continue to influence monthly allocations.
The FAAC meeting, which is routinely held to distribute revenues from the federation account, remains a critical mechanism for funding government activities across Nigeria’s three tiers of government.
The latest disbursement comes at a time when many states are grappling with rising expenditure and economic pressures, making the monthly FAAC allocations a vital lifeline for public spending and development projects across the country.
