FAAC releases N1.894tn to FG, states, local govts as February revenue

The Federation Account Allocation Committee (FAAC) has disbursed a full of N1.894 trillion from the February 2026 Federation Account gross to the national government, authorities governments and section authorities councils.

This was disclosed successful a communiqué issued connected Friday and signed by the spokesperson of the Office of the Accountant-General of the Federation, Bawa Mokwa.

According to the statement, the gross was shared during the March 2026 FAAC gathering held successful Abuja.

The N1.894 trillion full distributable gross comprised N1.274 trillion arsenic distributable statutory gross and N619.119 cardinal from value-added taxation (VAT).

The communiqué further indicated that full gross gross of N2.230 trillion would beryllium disposable successful February 2026. From this amount, N77.302 cardinal was deducted arsenic outgo of collection, portion N259.078 cardinal was acceptable speech for transfers, refunds and savings.

FAAC noted that gross statutory gross of N1.561 trillion was received successful February 2026. This represented a diminution of N395.138 cardinal compared to the N1.957 trillion recorded successful the preceding month.

Similarly, N668.450 billion...