ABUJA — The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion among the Federal Government, states and local government councils from revenue generated in September 2026. The amount is N90 billion higher than the N2.338 trillion distributed for August. The total was made up of N1.672 trillion in statutory revenue and N756.587 billion in Value Added Tax (VAT). From the distributable amount, the Federal Government received N832.242 billion, the states N799.872 billion and local government councils N560.660 billion. Oil and mineral-producing states shared N236.049 billion as 13 per cent derivation revenue. Gross revenue for the month stood at N3.913 trillion. Out of this, N131.758 billion was deducted as cost of collection, while N1.352 trillion went to transfers, refunds and savings. Gross statutory revenue rose to N3.096 trillion from N2.850 trillion in the previous month, an increase of N246.384 billion. Gross VAT, however, dropped to N816.872 billion from N834.843 billion, a fall of N17.972 billion. From statutory revenue, the Federal Government received N756.583 billion, states N383.749 billion and councils N295.855 billion. From VAT, the Federal Government got N75.659 billion, states N416.123 billion and councils N264.805 billion. According to the committee, Petroleum Profit Tax, Hydrocarbon Tax, petroleum royalties, import duty, Common External Tariff levies and excise duty all increased during the month. On the other hand, Companies Income Tax, Capital Gains Tax, stamp duties, VAT, mineral royalties, gas-flaring penalties and miscellaneous oil revenue declined.