The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as revenue generated in June 2026 among the Federal Government, 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 Office of the Accountant General of the Federation.
The committee said the distributable revenue comprised N1.809 trillion from statutory revenue and N740.724 billion from Value Added Tax (VAT).
According to the communiqué, total gross revenue available for June stood at N4.500 trillion, from which N160.744 billion was deducted as the cost of collection, while N1.789 trillion was set aside for transfers and refunds.
The Federal Government received N923.438 billion from the total distributable revenue, while the 36 states received N838.208 billion. The 774 local government councils shared N591.390 billion, while N197.610 billion, representing 13 per cent of mineral revenue, was allocated to oil-producing states as derivation revenue.
The communiqué further showed that from the N1.809 trillion statutory revenue, the Federal Government received N849.366 billion, the states received N430.810 billion, while local government councils got N332.136 billion. The oil-producing states also received N197.610 billion as derivation revenue.
From the N740.724 billion VAT revenue, the Federal Government received N74.072 billion, state governments received N407.398 billion, while local government councils received N259.253 billion.
FAAC reported that gross statutory revenue for June rose to N3.700 trillion, representing an increase of N1.049 trillion over the N2.651 trillion recorded in May 2026.
Similarly, gross VAT revenue increased to N799.746 billion in June from N743.688 billion in May, reflecting a growth of N56.078 billion.
The committee also disclosed that collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flared, Rentals and Miscellaneous Oil Revenue (MOR), Value Added Tax (VAT), Import Duty and Common External Tariff (CET) Levies recorded significant increases during the month.
However, revenues from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees declined considerably, while Excise Duty recorded only a marginal increase.
