FAAC revenue rises as N2.3tn is shared among government tiers
The Federation Account Allocation Committee has distributed N2.3tn among the Federal Government, states, and local government councils from May 2026 revenue. This marks an increase over the previous month, continuing a trend of rising federation revenues. The distribution includes statutory revenue and Value Added Tax, with allocations detailed for each tier of government. The figures were released following the June 2026 committee meeting in Abuja, according to a statement by Bawa Mokwa.
TLDR
- N2.3tn from May 2026 revenue was shared among the Federal Government, states, and local government councils, up by N43bn from the previous month.
- The June 2026 committee meeting revealed that statutory revenue collections grew, while VAT collections declined.
- The Federal Government received N818.680bn, states got N759.141bn, and local governments received N534.277bn.
- Oil-producing states shared N188.132bn as 13 per cent derivation revenue.
- Despite weaker VAT and import duty receipts, higher collections from Companies Income Tax and oil-related taxes boosted overall revenue.
