Nigeria’s revenue windfall surged past the ₦2 trillion mark for the second time in 2026 as the Federation Account Allocation Committee (FAAC), chaired by incoming Coordinating Minister of the Economy Taiwo Oyedele, approved a massive ₦2.036 trillion disbursement for March.
The landmark meeting, Oyedele’s first at the helm of FAAC, saw funds shared across the three tiers of government, signaling continued fiscal strength amid ongoing economic reforms.
According to a statement from the Office of the Accountant General of the Federation, total distributable revenue stood at ₦2.036 trillion, drawn from a gross inflow of ₦2.364 trillion, after deductions for cost of collection and statutory transfers.
Federal, States, LGs Smile to the Bank
Breakdown of the allocation shows:
Federal Government received ₦789.159 billion
State governments got ₦657.596 billion
Local government councils pocketed ₦468.826 billion
Oil-producing states secured ₦120.759 billion as 13% derivation
Statutory revenue accounted for ₦1.320 trillion, while Value Added Tax (VAT) contributed ₦515.391 billion. An additional ₦200 billion augmentation was also shared to boost allocations.
Rising Revenues, Growing Expectations
This marks the second time this year FAAC allocations have crossed the ₦2 trillion threshold, raising expectations for improved public spending and infrastructure delivery nationwide.
Economic watchers say the sustained high disbursements could ease fiscal pressures on subnational governments, but caution that efficient utilization and transparency will be key to translating the revenue boost into tangible development outcomes.
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