The Federal Government, state governments, and local government councils shared a total of N2.55 trillion from the Federation Account Allocation Committee, FAAC, as revenue for June 2026.
The Director of the Office of the Accountant General of the Federation, Bawa Mokwa, disclosed the allocation in a statement issued on Wednesday following the July 2026 FAAC meeting held in Abuja.
The distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion from Value Added Tax, VAT.
According to the FAAC communiqué, total gross revenue available for June stood at N4.5 trillion. From the amount, N160.744 billion was deducted as cost of collection, while N1.789 trillion was allocated for transfers and refunds.
The Federal Government received N923.438 billion from the total distributable revenue, while the 36 states received N838.208 billion.
Local government councils received N591.390 billion, while oil producing states shared N197.610 billion as 13 percent derivation revenue.
From the N1.809 trillion statutory revenue, the Federal Government received N849.366 billion, the states received N430.810 billion, and local governments received N332.136 billion. The derivation allocation remained N197.610 billion.
From the N740.724 billion VAT revenue, the Federal Government received N74.072 billion, state governments received N407.398 billion, while local government councils got N259.253 billion.
The communiqué also revealed that gross statutory revenue increased to N3.7 trillion in June from N2.651 trillion recorded in May, representing an increase of N1.049 trillion.
Gross VAT revenue also rose to N799.746 billion in June from N743.688 billion in May, an increase of N56.078 billion.
FAAC noted that revenue from Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Royalties, Gas Flared, Rental and Mineral Oil Revenue, VAT, Import Duty, and Common External Tariff Levies recorded significant increases during the month.
However, collections from Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties, and Fees declined, while Excise Duty recorded only a marginal increase.
