- FG, States, LGs Share N15.99trn as July FAAC Allocation Hits Record N3trn
- The July allocation was approved at FAAC’s meeting held in Owerri, Imo State
- The July allocation represented an increase of N457 billion, or 17.9 per cent, compared with the N2.55 trillion shared in June
The Federal Government, 36 states and 774 local government councils shared a total of N15.997 trillion from the Federation Account between January and July 2026.
Eko Hot Blog reports that the figure increased after the Federation Account Allocation Committee (FAAC) approved N3.007 trillion for the three tiers of government in July, the highest monthly allocation recorded so far this year.
EDITOR’S PICK
- Mr. President, Osun Has Warned You: The Abuja Boys May Not Know the People
- How Lagos Is Raising a New Generation of ‘Eco Heroes’
- Beyond the Glamour: The Hidden Price Celebrities Pay for Looking Perfect
The July allocation was approved at FAAC’s meeting held in Owerri, Imo State, according to a statement issued by the spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa.
FAAC had distributed N1.96 trillion in January, N1.89 trillion in February, N2.04 trillion in March, N2.25 trillion in April, N2.30 trillion in May and N2.55 trillion in June.
The total allocation for the first six months stood at N12.99 trillion.
With the addition of July’s N3.007 trillion, cumulative disbursements for the first seven months of the year rose to N15.997 trillion.
The July allocation represented an increase of N457 billion, or 17.9 per cent, compared with the N2.55 trillion shared in June.
Meanwhile, gross statutory revenue increased significantly to N4.359 trillion in July from N3.700 trillion in June.
The increase represents N658.087 billion, or 17.8 per cent, month-on-month.
However, gross Value Added Tax (VAT) revenue recorded a marginal decline, falling to N793.968 billion in July from N799.746 billion in June.
The VAT figure represents a decrease of N5.778 billion, or 0.7 per cent.
Overall, FAAC allocations averaged about N2.285 trillion per month between January and July, with July recording the highest monthly disbursement during the period.
The latest figures come amid the Federal Government’s efforts to increase revenue and strengthen the finances of the three tiers of government.
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, had previously said each tier of government received at least N2 trillion monthly during the period under review.
FURTHER READING
- UBEC Gives Dropout Girls, Young Mothers Second Chance With Agboju School
- Prepaid Water Meters Will Hurt Poor Households, CAPPA Warns Lagos
- US Diplomat Brandon Hudspeth Arrives in Lagos to Lead Consulate
Click here to watch video of the week
