FG, States, LGs Share N2.55tn June Revenue as FAAC Allocation Rises

The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as distributable revenue for June 2026 among the Federal Government, the 36 states and the 774 local government councils.

The allocation was announced at the July 2026 FAAC meeting in Abuja, according to a statement issued by the Office of the Accountant General of the Federation (OAGF) and signed by its Director of Press and Public Relations, Bawa Mokwa.

The statement disclosed that the distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion from Value Added Tax (VAT).

According to the communiqué, the Federal Government received N923.438 billion, while the state governments got N838.208 billion. The 774 local government councils received N591.390 billion, while N197.610 billion, representing the 13 per cent derivation revenue from mineral resources, was allocated to benefiting oil-producing states.

The OAGF further revealed that N4.500 trillion was available as total gross revenue for June 2026. From the amount, N160.744 billion was deducted as the cost of collection, while N1.789 trillion was set aside for transfers and refunds before the balance was distributed.

The communiqué showed that gross statutory revenue increased significantly during the month, rising from N2.651 trillion in May 2026 to N3.700 trillion in June 2026, an increase of N1.049 trillion.

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

A breakdown of the statutory revenue allocation indicated that the Federal Government received N849.366 billion, the states N430.810 billion, while local government councils received N332.136 billion. The oil-producing states also shared the N197.610 billion derivation fund.

From the N740.724 billion VAT revenue, the Federal Government received N74.072 billion, the state governments N407.398 billion, and local government councils N259.253 billion.

The FAAC communiqué also highlighted improvements in several revenue sources during the month. It noted that 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 recorded significant increases.

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

The latest FAAC distribution reflects improved revenue performance for June, driven largely by stronger statutory and VAT collections, providing higher allocations to all three tiers of government.