The Federation Account Allocation Committee (FAAC) distributed N2.036 trillion Naira to the federal, state, and local governments, marking a historic revenue milestone for March 2026.
This distribution follows a surge in statutory revenue, which hit N1.320 trillion, significantly bolstered by high global oil prices and improved domestic collection mechanisms.
The Federal Government received N789.159 billion, while the 36 states shared N657.596 billion, providing essential liquidity for regional infrastructure and economic development projects.
Local Government Councils were allocated N468.826 billion, and oil-producing states received an additional N120.759 billion as derivation revenue from mineral royalties.
Gross revenue for the month peaked at N2.364 trillion before N81.084 billion was deducted for collection costs and N246.872 billion moved to savings and refunds.
Finance Minister Taiwo Oyedele noted the result marks the second time this year that the shared revenue pool has exceeded the N2 trillion threshold.
While Value Added Tax (VAT) saw a marginal dip to N515.391 billion, the overall statutory growth offset the decline, signaling a robust end to the first quarter.
The International Monetary Fund (IMF) currently projects Nigeria’s 2026 growth at 4.1%, a decade-high pace predicated on sustained macroeconomic stability.
