The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as federation account revenue for June 2026 to the Federal Government, state governments and the 774 Local Government Councils.
The allocation was approved at the July 2026 FAAC meeting held in Abuja on Wednesday, according to a statement issued by the Director of Press, Office of the Accountant-General of the Federation, Mallam Bawa Mokwa.
The distributable revenue comprised N1.809 trillion from statutory revenue and N740.724 billion from Value Added Tax (VAT).
A communiqué issued after the meeting revealed that the gross revenue available for June 2026 stood at N4.500 trillion. From the amount, N160.744 billion was deducted as the cost of collection, while N1.789 trillion was set aside for transfers, interventions and refunds.
The communiqué further disclosed that gross statutory revenue for June amounted to N3.700 trillion, representing an increase of N1.049 trillion over the N2.651 trillion recorded in May 2026.
Similarly, gross VAT revenue for June stood at N799.746 billion, up by N56.078 billion from the N743.688 billion generated in May 2026.
Of the N2.550 trillion shared, the Federal Government received N923.438 billion, the 36 states received N838.208 billion, while the 774 Local Government Councils got N591.390 billion. Oil-producing states also received N197.610 billion as 13 per cent derivation revenue.
From the N1.809 trillion statutory revenue, the Federal Government received N849.366 billion, the states received N430.810 billion, while the Local Government Councils received N332.136 billion. The oil-producing states also shared N197.610 billion as derivation revenue.
From the N740.724 billion VAT revenue, the Federal Government received N74.072 billion, the states got N407.398 billion, while the Local Government Councils received N259.253 billion.
FAAC also reported notable improvements in revenue collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flared Penalties, Rental, Miscellaneous Oil Revenue (MOR), Value Added Tax (VAT), Import Duty and CET Levies during the month.
However, collections from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees declined significantly, while Excise Duty recorded only a marginal increase.
