Inflows from oil, gas royalties, corporate income tax, import duties, and VAT boost FAAC allocations to N2.257 trillion for April

Inflows from Companies Income Tax (CIT), import duties and Value Added Tax (VAT) lifted the Federation Account Allocation Committee (FAAC) allocations for April to N2.257 trillion, a N217 billion rise over the N2.04 trillion disbursed in March.

The figures were disclosed at the delayed monthly FAAC meeting for May, held in Abuja yesterday.

The April 2026 revenue totalled N3.184 trillion.

According to a communique issued at the meeting’s conclusion, the Director of Press and Public Relations at the Office of the Accountant‑General of the Federation (OAGF), Bawa Mokwa, announced that N2.257 trillion was distributed from the April Federation Account revenue to the federal, state and local governments.

Although Petroleum Profit Tax (PPT) and Hydrocarbon Tax fell sharply during the month, stronger receipts from CIT, import duties, VAT and oil and gas royalties compensated for the losses and expanded the distributable pool.

The communique stated that the N2.257 trillion distributable revenue consisted of N1.260 trillion statutory revenue, N747.088 billion VAT revenue and N250 billion Augmentation.

From the gross revenue of N3.184 trillion available in April, N113.756 billion was deducted as cost of collection, while N813.839 billion was allocated to transfers, refunds and savings.

Gross statutory revenue rose to N2.378 trillion in April from N1.699 trillion in March, an increase of N678.224 billion.

Gross VAT revenue climbed to N806.617 billion in April from N664.425 billion in March, a surge of N142.192 billion.

The communique attributed the higher revenue performance to improved collections from several major tax and non‑tax sources.

From the N2.257 trillion distributable revenue, the federal government received N787.351 billion, states received N772.360 billion and the 774 local government councils received N540.152 billion. Oil‑producing states received N157.25 billion as 13 percent derivation revenue.

From the N1.260 trillion statutory revenue, the federal government received N580.942 billion, states received N294.661 billion and local governments received N227.172 billion. Under the derivation principle, oil‑producing states also received N157.254 billion from the statutory component.

For the VAT revenue, the federal government received N74.709 billion, states received N410.898 billion and local governments received N261.481 billion.

The federal government also received N131.700 billion from the N250 billion Augmentation, states received N66.800 billion and local governments received N51.500 billion.

The communique added, “In April 2026, CIT, CGT, SDT, Import Duty, Oil and Gas Royalty and Value Added Tax increased significantly while Petroleum Profit Tax and Hydrocarbon Tax decreased considerably. Excise Duty and CET Levies decreased marginally.”