The Federal Government, states and local government councils shared N2.338tn at the September meeting of the Federation Account Allocation Committee, representing a 22.2 per cent decline from the record N3.007tn distributed in the previous month.
The N2.338tn shared at the meeting held in Abuja represents revenue generated in August 2026, according to a statement issued on Thursday by the Office of the Accountant-General of the Federation.
The decline amounted to N669bn compared with the N3.007tn shared at the August FAAC meeting from revenue generated in July.
reported that the July allocation was the highest monthly FAAC distribution recorded in 2026 and the largest in reviewed records dating back to 2019.
The statement by the Director of Press and Public Relations in the OAGF, Bawa Mokwa, read, “A total sum of N2.338tn, being August 2026 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.”
The decline in the amount available for distribution followed a sharp drop in statutory revenue. According to the FAAC communiqué, gross statutory revenue fell by N1.508tn, or 34.6 per cent, to N2.850tn in August from N4.359tn in July.
“Gross statutory revenue of N2.850tn was received for the month of August 2026. This was lower than the sum of N4.359tn received in the preceding month by N1.508tn,” the statement read.