By NIyi Jacobs
The Federation Account Allocation Committee (FAAC) has distributed a total of ₦1.894 trillion as revenue for February 2026 to the Federal Government, state governments and the 774 local government councils across Nigeria.
The allocation was announced in a communiqué issued after the FAAC meeting, where representatives of the federal, state and local governments reviewed revenue inflows into the federation account.
According to the communiqué, the ₦1.894 trillion distributable revenue comprised ₦1.274 trillion from statutory revenue and ₦619.119 billion generated from Value Added Tax (VAT).
The funds were shared among the Federal Government, the 36 state governments and the 774 local government councils in line with the existing revenue-sharing formula.
The monthly FAAC distribution remains a key source of funding for government operations at all levels, supporting the payment of salaries, infrastructure development and the delivery of public services.
Economic analysts note that fluctuations in FAAC allocations are often influenced by oil revenue performance, tax collections and other federally collected revenues, which form the core of the federation account
