The Federation Account Allocation Committee (FAAC) has distributed a total revenue of N1.894 trillion among the Federal Government, state governments, and local government councils for February 2026. This distribution was announced by Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, following the FAAC meeting held in Abuja in March 2026.

The N1.894 trillion allocated revenue comprised both statutory revenue of N1.274 trillion and N619.119 billion from Value Added Tax (VAT). The communiqué released indicates that there was a gross revenue availability of N2.230 trillion for February, from which deductions included N77.302 billion for collection costs and N259.078 billion for various transfers, refunds, and savings. The figures reveal a significant decrease in gross statutory revenue, which fell to N1.561 trillion, showing a drop of N395.138 billion compared to previous months.

The implications of these revenue distributions are vital for governmental operations at various levels in Nigeria, emphasizing the challenges faced in maintaining budgets and funding public services effectively. The reported decrease in statutory revenue underlines the potential economic issues impacting the country, calling for a closer look at revenue generation strategies and economic management going forward.