Nigeria's Federal Government, 36 states and 774 local government councils shared N2.428 trillion from the Federation Account in October 2026, according to the Office of the Accountant-General of the Federation. This represented an increase of N90 billion, or 3.85 per cent, from the N2.338 trillion distributed in September. The rise followed improved receipts from petroleum-related taxes, royalties and import duties, though Value Added Tax collections fell.
Gross statutory revenue increased by N246.384 billion, or approximately 8.6 per cent, to N3.096 trillion in September from N2.850 trillion in August, the Federation Account Allocation Committee communiqué showed. However, this represented a recovery from a sharp contraction in August, when statutory revenue had declined by N1.508 trillion from N4.359 trillion in July.
Oil-producing states saw significant gains, with derivation revenue rising by N51.661 billion, or 28 per cent, to N236.049 billion. The Federal Government received N832.242 billion from the October allocation, while the 36 states got N799.872 billion and local government councils received N560.660 billion. Despite the improvement, October's total remained N579 billion, or 19.3 per cent, below the record August peak of N3.007 trillion.
Gross VAT collections declined by N17.972 billion, or 2.2 per cent, to N816.872 billion in September from N834.843 billion in August. Overall gross Federation Account revenue increased by N228 billion, or 6.2 per cent, to N3.913 trillion in September, though deductions and transfers also rose, limiting the distributable amount.