The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as revenue generated in June 2026 among the Federal Government, the 36 states and the 774 local government councils, reflecting improved revenue collections during the month.
According to a communiqué issued after the July FAAC meeting in Abuja, the distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion from Value Added Tax (VAT).
From the total allocation, the Federal Government received N923.438 billion, while state governments shared N838.208 billion. The 774 local government councils received N591.390 billion, while N197.610 billion was distributed to oil-producing states as the 13 per cent derivation fund.
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FAAC said total gross revenue available for June stood at N4.500 trillion. Out of the amount, N160.744 billion was deducted as the cost of revenue collection, while N1.789 trillion was set aside for transfers, interventions and refunds before the balance was shared among the three tiers of government.
A breakdown of the statutory revenue allocation showed that the Federal Government received N849.366 billion, states got N430.810 billion, local governments received N332.136 billion, while the oil-producing states received the N197.610 billion derivation allocation. From the VAT pool, the Federal Government received N74.072 billion, the states received N407.398 billion, and the local governments received N259.253 billion.
The committee attributed the improved revenue performance to stronger collections from Companies Income Tax, Capital Gains Tax, Stamp Duty, petroleum royalties, gas flaring, rental income, Minimum Operating Revenue, VAT, import duties and Common External Tariff levies. However, receipts from Petroleum Profit Tax, Hydrocarbon Tax, mineral royalties and related fees declined, while excise duty recorded only a marginal increase.
FAAC also reported that gross statutory revenue rose to N3.700 trillion in June from N2.651 trillion recorded in May, while gross VAT collections increased to N799.746 billion from N743.688 billion in the previous month, contributing to the higher distributable revenue.
