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Taiwo Oyedele Presides Over FAAC, Shares Record ₦2.036 Trillion for March 2026 Second Time in 2026 Disbursements Top ₦2 Trillion Mark. Incoming Coordinating Minister of the Economy, Taiwo Oyedele, chaired his first FAAC meeting in his new ministerial role, overseeing the allocation of ₦2.036 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 ₦2 trillion threshold. Key Figures from the Meeting: Total distributable revenue: ₦2.036 trillion Distributable statutory revenue: ₦1.320 trillion Distributable VAT revenue: ₦515.391 billion Augmentation: ₦200 billion Gross revenue inflow for March: ₦2.364 trillion Cost of collection: ₦81.084 billion Transfers, refunds, and savings: ₦246.872 billion Breakdown of the ₦2.036 Trillion Allocation: Federal Government: ₦789.159 billion State governments: ₦657.596 billion Local government councils: ₦468.826 billion Derivation (13% to oil-producing states): ₦120.759 billion Statutory Revenue Component (₦1.320 trillion): Federal: ₦632.260 billion States: ₦320.691 billion Local governments: ₦247.239 billion Derivation: ₦120.759 billion VAT Component (₦515.391 billion): Federal: ₦51.539 billion States: ₦283.465 billion Local governments: ₦180.387 billion Augmentation (₦200 billion): Federal: ₦105.360 billion States: ₦53.440 billion Local governments: ₦41.200 billion 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.
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