FG, States, LGCs Share N1.894 Trillion From February Revenue

FG, States, LGCs Share N1.894 Trillion From February Revenue
The Federal Government, state governments, and Local Government Councils have shared a total of ₦1.894 trillion as revenue allocation for the month of February, according to the latest report from the Federation Account Allocation Committee (FAAC).
The revenue was distributed from a gross total of ₦2.230 trillion, generated during the month and presented at the FAAC meeting held in Abuja.
According to officials, the shared revenue came from multiple sources including statutory revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), and exchange rate gains. After necessary deductions for collection costs and transfers, the distributable revenue stood at ₦1.894 trillion, which was shared among the three tiers of government.
Breakdown of the allocation shows that the Federal Government received the largest portion, while the 36 states and the 774 Local Government Councils also received their constitutionally allocated shares to support governance and public services.
The monthly FAAC allocation remains a crucial financial lifeline for many states and local governments across Nigeria, helping them fund salaries, infrastructure projects, and social services.
Economic observers say the sustained high revenue distribution is largely influenced by improved tax collections, exchange rate adjustments, and revenue reforms by the **Federal Inland Revenue Service and other revenue-generating agencies.
However, experts continue to stress the need for states to boost internally generated revenue (IGR) and reduce overdependence on federal allocations in order to ensure long-term fiscal stability.
The FAAC meets monthly to distribute revenue generated into the federation account among the **Federal Government of Nigeria, states, and local government areas in line with the country’s revenue sharing formula.
Further details on the exact breakdown of the allocation among the three tiers of government are expected to be released after the conclusion of the committee’s meeting.