YOU SHOULD BE DEAD, DOCTORS SAID THEY’VE NEVER SEEN THIS - HULK HOGAN RECALLS SHOCKING FENTANYL USE IN FINAL INTERVIEW. (PHOTO).
Incoming Coordinating Minister of the Economy, Taiwo Oyedele, chaired his first FAAC meeting in his new ministerial role, overseeing the allocation of ₦2.036 trillion in Federation Account revenue for March 2026.
This marks the second time this year that FAAC disbursements to the federal, state, and local governments have exceeded the ₦2 trillion threshold.
Key Figures from the Meeting:
Total distributable revenue: ₦2.036 trillion
Distributable statutory revenue: ₦1.320 trillion
Distributable VAT revenue: ₦515.391 billion
Augmentation: ₦200 billion
Gross revenue inflow for March: ₦2.364 trillion
Cost of collection: ₦81.084 billion
Transfers, refunds, and savings: ₦246.872 billion
Breakdown of the ₦2.036 Trillion Allocation:
Federal Government: ₦789.159 billion
State governments: ₦657.596 billion
Local government councils: ₦468.826 billion
Derivation (13% to oil-producing states): ₦120.759 billion
Statutory Revenue Component (₦1.320 trillion):
Federal: ₦632.260 billion
States: ₦320.691 billion
Local governments: ₦247.239 billion
Derivation: ₦120.759 billion
VAT Component (₦515.391 billion):
Federal: ₦51.539 billion
States: ₦283.465 billion
Local governments: ₦180.387 billion
Augmentation (₦200 billion):
Federal: ₦105.360 billion
States: ₦53.440 billion
Local governments: ₦41.200 billion
The distribution details were provided in a statement from the Office of the Accountant General of the Federation, signed by Bawa Mokwa, the Director of Press and Public Relations.
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