FG, States, LGs Receive N2.55tn as FAAC Distributes June Revenue

FG, States, LGs Receive N2.55tn as FAAC Distributes June Revenue
FG Gets N923.4bn
June Allocation, VAT Revenue Rises

The Federation Account Allocation Committee (FAAC) has shared N2.550 trillion as June 2026 revenue among the federal, state and local governments.

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Eko Hot Blog reports that the Director of the Office of the Accountant General of the Federation, Bawa Mokwa, disclosed this in a statement issued on Wednesday following the July 2026 FAAC meeting held in Abuja.

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According to the statement, the distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion from Value Added Tax (VAT).

A communiqué issued after the meeting showed that N4.500 trillion was available as total gross revenue for June 2026. It added that N160.744 billion was deducted as the cost of collection, while N1.789 trillion was allocated for transfers and refunds.

The communiqué further revealed that gross statutory revenue increased from N2.651 trillion recorded in May to N3.700 trillion in June, representing an increase of N1.049 trillion.

Similarly, gross VAT revenue rose to N799.746 billion in June from N743.688 billion in May, reflecting an increase of N56.078 billion.

FAAC: FG, States, LGs Share ₦1.928trn November Revenue — FAAC

From the total distributable revenue of N2.550 trillion, the Federal Government received N923.438 billion, while the 36 state governments shared N838.208 billion.

The 774 local government councils received N591.390 billion, while N197.610 billion, representing 13 per cent derivation revenue, was allocated to oil-producing states.

The communiqué also showed that from the N1.809 trillion statutory revenue, the Federal Government received N849.366 billion, states received N430.810 billion, while local governments got N332.136 billion. The derivation allocation to benefiting states remained N197.610 billion.

From the N740.724 billion VAT revenue, the Federal Government received N74.072 billion, states received N407.398 billion, while local governments were allocated N259.253 billion.

FAAC also reported improvements in collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flared, Rental and Miscellaneous Oil Revenue (MOR), Value Added Tax (VAT), Import Duty and Common External Tariff (CET) Levies.

However, collections from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees declined during the period, while Excise Duty recorded only a marginal increase.