The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.551 trillion as Federation Account revenue for June 2026 among the Federal Government, the 36 state governments and the 774 local government councils.
The allocation was approved at the July 2026 FAAC meeting held in Abuja, according to a statement issued on Wednesday by the Director of the Office of the Accountant General of the Federation, Bawa Mokwa.
The committee disclosed that the distributable revenue consisted of ₦1.809 trillion from statutory revenue and ₦740.724 billion from Value Added Tax (VAT).
FAAC said the total gross revenue available for June stood at ₦4.500 trillion, out of which ₦160.744 billion was deducted as the cost of collection, while ₦1.789 trillion was set aside for transfers, interventions and refunds.
From the ₦2.551 trillion shared, the Federal Government received ₦923.438 billion, the 36 states received ₦838.208 billion, while the 774 local government councils got ₦591.390 billion. Oil-producing states also received ₦197.610 billion as 13 per cent derivation revenue.
A breakdown of the statutory revenue allocation shows that the Federal Government received ₦849.366 billion, states got ₦430.810 billion, local governments received ₦332.136 billion, while ₦197.610 billion was paid to oil-producing states as derivation.
From the ₦740.724 billion VAT revenue, the Federal Government received ₦74.072 billion, states shared ₦407.398 billion, while local governments received ₦259.253 billion.
FAAC also reported a significant increase in revenue generation, with gross statutory revenue rising from ₦2.651 trillion in May to ₦3.700 trillion in June, representing an increase of ₦1.049 trillion. Gross VAT collections also improved from ₦743.688 billion in May to ₦799.746 billion in June.
According to the committee, the improved revenue performance was driven by higher collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flared, Rental and Miscellaneous Oil Revenue (MOR), VAT, Import Duty and CET Levies.
However, FAAC noted that revenue from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees declined during the period, while excise duty recorded only a marginal increase.
