The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.551 trillion as Federation Account revenue for June 2026 among the Federal Government, the 36 states and the 774 local government councils.
According to a statement issued on Wednesday by the Director of the Office of the Accountant General of the Federation, Bawa Mokwa, the allocation was approved at the July 2026 FAAC meeting held in Abuja.
The distributable revenue comprised ₦1.809 trillion from statutory revenue and ₦740.724 billion from Value Added Tax (VAT).
FAAC disclosed that total gross revenue available for June stood at ₦4.500 trillion, with ₦160.744 billion deducted as the cost of collection and ₦1.789 trillion set aside for transfers and refunds.
Out of the ₦2.551 trillion distributed, the Federal Government received ₦923.438 billion, the 36 states received ₦838.208 billion, while the 774 local government councils got ₦591.390 billion. Oil-producing states also shared ₦197.610 billion as 13 per cent derivation revenue.
The communiqué further showed that from the ₦1.809 trillion statutory revenue, the Federal Government received ₦849.366 billion, states received ₦430.810 billion, local governments got ₦332.136 billion, while ₦197.610 billion was allocated as derivation revenue.
From the ₦740.724 billion VAT revenue, the Federal Government received ₦74.072 billion, states got ₦407.398 billion, and local governments received ₦259.253 billion.
FAAC also noted that gross statutory revenue increased from ₦2.651 trillion in May to ₦3.700 trillion in June, representing a rise of ₦1.049 trillion. Gross VAT collections also rose from ₦743.688 billion in May to ₦799.746 billion in June.
The committee attributed the improved revenue performance to significant increases in 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 CET Levies, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees recorded declines. Excise duty posted only a marginal increase.
