The Federation Accounts Allocation Committee (FAAC) has remained silent on the sharing of January 2026 revenue to the three tiers of government.

This came even as the federation revenue has maintained a steady decline for the third consecutive month, declining from N2.164 trillion in October 2025, to N1.736 trillion in November and further down to N1.631 trillion in December before sliding to N1.561 trillion in February 2026.

Although it is not clear what happened to the revenue generated in January 2026, it was reported that during the January 2026 FAAC meeting, state commissioners for Finance rejected the N1.969 trillion proposed for distribution as December 2025 revenue, saying it was too low compared to what they believed to have accrued to the federation account.

The differences were, however, later resolved and on February 1, the revenue generated in December 2025 was distributed among the three tiers of government.

However, the January allocation figures for revenue were not made public after the February FAAC meeting.

The expectation was that FAAC would, during its March meeting, address the January 2026 revenue issue. But instead, the committee disclosed the February figure while maintaining silence on January revenue.

Section 162(3) of the 1999 Constitution (as amended) mandates that proceeds in the federation account “shall be distributed among the federal, state and local government councils” on terms set by the National Assembly.

Failure to share federation revenue to the three tiers of government monthly could amount to a breach of the constitution and the Fiscal Responsibility Act (FRA), as well as the fiscal stability of states and local governments.

The Director, Press and Public Relations, Office of the Accountant-General of the Federation, Bawa Mokwa, when asked about the January 2026 revenue, simply said: “We are working on it”.

In February, FAAC received 100 per cent of the profit from oil production sharing contracts (PSCs) from the Nigerian National Petroleum Company (NNPC) Limited, showing that the executive order recently signed by the President has taken effect.

The President had on February 13, 2026, signed the Presidential Executive Order 9, to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity, 2026.

The order mandates that all oil and gas revenues, including royalties and taxes, be paid directly into the Federation Account.

It requires NNPCL to remit 100 per cent of profit from oil and gas revenues to the Federation Account, replacing the previous practice of retaining large portions for expenses, including the frontier exploration fund.

It was also observed in the communiqué issued by FAAC at the end of its March meeting that revenue from value-added tax (VAT) fell significantly to N668.45 billion in February 2026 from N1.083 trillion in January 2026 and N913.957 billion in December 2025.