Strong collections from companies income tax, import duties, and value added tax drove a N217 billion increase in federal account allocations for April 2026, with the three tiers of government sharing N2.257 trillion compared to N2.04 trillion disbursed in March, despite significant declines in petroleum profit tax and hydrocarbon tax during the period.
The figures, disclosed at the delayed May FAAC meeting in Abuja, showed gross revenue of N3.184 trillion in April before deductions of N113.756 billion for collection costs and N813.839 billion for transfers, refunds, and savings, leaving the N2.257 trillion distributable pool.
The distributable revenue comprised N1.260 trillion in statutory revenue, N747.088 billion in VAT revenue, and N250 billion in augmentation. Gross statutory revenue climbed from N1.699 trillion in March to N2.378 trillion in April, an increase of N678.224 billion, while gross VAT revenue rose from N664.425 billion to N806.617 billion, a surge of N142.192 billion.
The federal government received N787.351 billion from the total distributable pool, states received N772.360 billion, and the 774 local government councils received N540.152 billion. Oil-producing states collected an additional N157.25 billion as 13 percent derivation revenue. From the statutory component alone, the federal government received N580.942 billion, states got N294.661 billion, and local governments received N227.172 billion.
