Incoming Coordinating Minister of the Economy, Taiwo Oyedele, chaired his first FAAC meeting in his new ministerial role, overseeing the allocation of \u20a62.036 trillion in Federation Account revenue for March 2026.<\/p>\n
This marks the second time this year that FAAC disbursements to the federal, state, and local governments have exceeded the \u20a62 trillion threshold.<\/p>\n
Key Figures from the Meeting:<\/p>\n
Total distributable revenue: \u20a62.036 trillion<\/p>\n
Distributable statutory revenue: \u20a61.320 trillion<\/p>\n
Distributable VAT revenue: \u20a6515.391 billion<\/p>\n
Augmentation: \u20a6200 billion<\/p>\n
Gross revenue inflow for March: \u20a62.364 trillion<\/p>\n
Cost of collection: \u20a681.084 billion<\/p>\n
Transfers, refunds, and savings: \u20a6246.872 billion<\/p>\n
Breakdown of the \u20a62.036 Trillion Allocation:
\nFederal Government: \u20a6789.159 billion
\nState governments: \u20a6657.596 billion
\nLocal government councils: \u20a6468.826 billion
\nDerivation (13% to oil-producing states): \u20a6120.759 billion<\/p>\n
Statutory Revenue Component (\u20a61.320 trillion):
\nFederal: \u20a6632.260 billion
\nStates: \u20a6320.691 billion
\nLocal governments: \u20a6247.239 billion
\nDerivation: \u20a6120.759 billion<\/p>\n
VAT Component (\u20a6515.391 billion):
\nFederal: \u20a651.539 billion
\nStates: \u20a6283.465 billion
\nLocal governments: \u20a6180.387 billion<\/p>\n
Augmentation (\u20a6200 billion):
\nFederal: \u20a6105.360 billion
\nStates: \u20a653.440 billion
\nLocal governments: \u20a641.200 billion<\/p>\n
The distribution details were provided in a statement from the Office of the Accountant General of the Federation, signed by Bawa Mokwa, the Director of Press and Public Relations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Incoming Coordinating Minister of the Economy, Taiwo Oyedele, chaired his first FAAC meeting in his new ministerial role, overseeing the allocation of \u20a62.036 trillion in Federation Account revenue for March 2026. This marks the second time this year that FAAC disbursements to the federal, state, and local governments have exceeded the \u20a62 trillion threshold. Key […]<\/p>\n","protected":false},"author":1,"featured_media":3448,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[25,29],"tags":[],"class_list":["post-3441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-catchup","category-news"],"_links":{"self":[{"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/posts\/3441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/comments?post=3441"}],"version-history":[{"count":2,"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/posts\/3441\/revisions"}],"predecessor-version":[{"id":3444,"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/posts\/3441\/revisions\/3444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/media\/3448"}],"wp:attachment":[{"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/media?parent=3441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/categories?post=3441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finance.gov.ng\/ministry\/wp-json\/wp\/v2\/tags?post=3441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}