FG, States, LGs Share N2.3 Trillion May Revenue as FAAC Approves Allocation

The Federal Government, 36 states, and 774 local governments shared N2.300 trillion from Federation Account revenue generated in May 2026.

The allocation was approved at the June 2026 Federation Account Allocation Committee, FAAC, meeting in Abuja. Bawa Mokwa, spokesperson for the Office of the Accountant General of the Federation, disclosed the details in a statement on Wednesday.

Thr revenue breakdown in the N2.300 trillion distributable revenue comprised N1.611 trillion from statutory revenue, N688.785 billion from Value Added Tax, VAT and Total gross revenue for May stood at N3.395 trillion

FAAC deducted N123.546 billion for cost of collection and set aside N971.610 billion for transfers and refunds.

Gross statutory revenue hit N2.651 trillion in May, up N273.623 billion from N2.378 trillion in April. The VAT revenue declined to N743.668 billion, down N62.949 billion from N806.617 billion in April.

From the total N2.300 trillion Federal Government got N818.680 billion, State Governments N759.141 billion while Local Government Councils received N534.277 billion
And the Oil-producing states got N188.132 billion as 13% derivation

From statutory revenue of N1.611 trillion: FG got N749.801 billion, states N380.309 billion, LGs N293.202 billion, plus N188.132 billion derivation.

From VAT revenue of N688.785 billion: FG received N68.879 billion, states N378.832 billion, LGs N241.075 billion.

FAAC said Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax, and Oil & Gas Royalty recorded significant increases in May.

Import Duty, VAT, Excise Duty, and CET Levies recorded notable declines compared to April.

The allocation reflects May’s improved statutory collections despite weaker VAT performance.