The Federation Account Allocation Committee (FAAC), chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has distributed a total of N1.894 trillion to the three tiers of government as Federation Allocation for February 2026.
This allocation was derived from a gross total of N2.230 trillion. The distribution, which includes Gross Statutory Revenue and Value Added Tax (VAT), saw the Federal Government receive N675.086 billion, States receive N651.525 billion, and Local Government Councils receive N456.467 billion.
Oil-producing states were allocated an additional N110.949 billion as Derivation (13% of Mineral Revenue). Further deductions included N77.302 billion for the cost of collection and N259.078 billion for Transfers Intervention and Refunds.
Revenue Breakdown: The Gross Revenue from Value Added Tax (VAT) for February 2026 was N668.450 billion, a decrease of N414.710 billion compared to the N1.083 trillion distributed in the preceding month. 
After allocating N26.738 billion for collection costs and N22.593 billion for Transfers, Intervention, and Refunds, the remaining N619.119 billion distributed as follows: Federal Government (N61.912 billion), States (N340.515 billion), and Local Government Councils (N216.692 billion).
According to the statement released, the Gross Statutory Revenue for the month stood at N1.561 trillion, which was N395.138 billion lower than the N1.957 trillion received in the previous month.
From this, N50.564 billion was allocated for collection costs and N236.485 billion for Transfers, Intervention, and Refunds. 
The balance of N1.274 trillion was distributed among the tiers of government: Federal Government (N613.174 billion), States (N311.010 billion), Local Government Councils (N239.776 billion), and Derivation Revenue for oil-producing states (N110.949 billion).
Revenue Trends:Oil and Gas Royalty and Excise Duty experienced significant increases. Conversely, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT)/CGT, SDT, and Value Added Tax (VAT) all saw substantial decreases.
Import Duty and CET Levies showed marginal increases.In summary, the total distributable revenue for February 2026, comprising N1.274 trillion from Statutory Revenue and N619.119 billion from Value Added Tax (VAT), amounted to N1.894 trillion.
