FAAC Shares N3.007trn July Revenue to FG, States, LGs

The Federal Account Allocation Committee (FAAC) has shared a total of ₦3.007 trillion among the Federal Government, states and Local Government Councils as revenue for July 2026.

The figure represents an increase in revenue available for distribution and signals improved revenue performance across key oil and non-oil sources.

According to a communiqué issued on Tuesday and signed by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa, the Federal Government received ₦1.146 trillion, while the 36 states received ₦943.352 billion.

The Local Government Councils received ₦673.649 billion, while ₦243.478 billion, representing 13 per cent of mineral revenue, was shared among benefiting states as derivation revenue.

The committee said gross statutory revenue increased to ₦4.359 trillion in July, representing a rise of ₦658.087 billion or 17.8 per cent compared with the ₦3.700 trillion recorded in June.

It attributed the increase to improved collection from both oil and non-oil statutory revenue sources.

Meanwhile, gross Value Added Tax (VAT) revenue stood at ₦793.968 billion in July, representing a marginal decline of ₦5.778 billion or 0.7 per cent from the ₦799.746 billion recorded in June.

FAAC said the relatively stable VAT performance indicated resilience in consumption-tax receipts despite the month-on-month decline.

The committee attributed the overall improvement in revenue to stronger performances across several revenue streams.
It said Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), Petroleum Royalties, Mineral Royalties, Excise Duty and Gas Flared Penalty all recorded significant increases during the month.

According to FAAC, the development points to improved compliance and collection efficiency across the oil and non-oil sectors.

However, the gains were partly moderated by declines in VAT, Import Duty, Common External Tariff (CET) Levies, Rental of Gas Flared Fee and Miscellaneous Oil Revenue.

The committee said it would continue to monitor the affected revenue lines while working with revenue-generating agencies to address collection gaps and strengthen remittance discipline.