Nigeria Shares ₦1.894tn February Revenue Amid Declining Income Streams
Chukwu Obinna 
ABUJA, Nigeria – Nigeria’s three tiers of government share ₦1.894 trillion from the February 2026 Federation Account revenue, despite a sharp decline in major income streams compared with the previous month.
The allocation follows the Federation Account Allocation Committee (FAAC) meeting held Friday in Abuja.
According to a communiqué signed by Bawa Mokwa, Director of Press and Public Relations, the distributable revenue consists of ₦1.274 trillion in statutory revenue and ₦619.119 billion from Value Added Tax (VAT).
Gross revenue entering the federation account for February stands at ₦2.230 trillion, before ₦77.302 billion is deducted as collection costs and ₦259.078 billion allocated for transfers, refunds and savings.
Under Nigeria’s revenue-sharing formula:
The Federal Government receives ₦675.088 billion
36 state governments share ₦651.525 billion
774 local government councils receive ₦456.467 billion
Oil-producing states also receive ₦110.949 billion as 13 percent derivation revenue from mineral resources.
However, FAAC figures show significant declines across key revenue streams.
Gross statutory revenue for February falls to ₦1.561 trillion, down ₦395.138 billion from January’s ₦1.957 trillion.
VAT collections also dropped sharply to ₦668.450 billion, compared with ₦1.083 trillion recorded in January.
Major tax categories including Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax and Stamp Duties all record declines.
Nevertheless, oil and gas royalties, excise duties, import duties and the Common External Tariff post modest gains.
FAAC meets monthly to distribute revenues from the federation account among federal, state and local governments in accordance with Nigeria’s fiscal framework.
About the Author
Korede Abdullah 
Edino Chubiyo Cornelius