The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.55 trillion as June 2026 revenue among the Federal Government, the 36 states and the 774 local government councils.
Naijaonpoint reports that the disbursement was approved at FAAC’s July meeting held in Abuja on Wednesday, according to a statement issued by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa.
The committee said the distributable revenue comprised ₦1.8tn from statutory revenue and ₦740.72bn generated from Value Added Tax.
According to the statement, the Federation Account recorded a gross revenue of ₦4.5tn in June.
It explained that ₦160.74bn was deducted as the cost of revenue collection, while ₦1.78tn was set aside for transfers, interventions and refunds before the balance was shared among the three tiers of government.
A breakdown of the allocation showed that the Federal Government received ₦923.43bn from the distributable pool.
The 36 state governments received a combined ₦838.2bn, while the 774 local government councils shared ₦591.39bn.
In addition, the oil-producing states received ₦197.61bn as 13 per cent derivation revenue in line with the constitutional revenue-sharing formula.
FAAC disclosed that gross statutory revenue increased significantly during the month under review.
According to the committee, statutory revenue rose from ₦2.65tn in May to ₦3.7tn in June, representing an increase of ₦1.04tn.
Out of the ₦1.8tn distributable statutory revenue, the Federal Government received ₦849.36bn, while states got ₦430.81bn and local government councils received ₦332.13bn.
The oil-producing states also received ₦197.61bn as derivation revenue from the statutory allocation.
The committee also reported an increase in Value Added Tax collections during the period.
According to FAAC, gross VAT revenue rose from ₦743.68bn recorded in May to ₦799.74bn in June, reflecting an increase of ₦56.07bn or 7.5 per cent.
From the ₦740.72bn distributable VAT revenue, the Federal Government received ₦74.07bn, states shared ₦407.39bn, while local government councils received ₦259.25bn.
FAAC attributed the improved revenue performance to higher collections from several major revenue sources.
The committee said Company Income Tax, Capital Gains Tax, Stamp Duties, petroleum royalties, gas flaring penalties, rents, Miscellaneous Oil Revenue, Value Added Tax, Import Duty and Common External Tariff levies all recorded significant increases during the month.
However, it noted that receipts from Petroleum Profit Tax, Hydrocarbon Tax, mineral royalties and related fees declined during the period, while excise duty posted only a marginal increase.
The committee expressed optimism that sustained improvements in revenue generation would continue to strengthen allocations to the three tiers of government and support public sector financing across the country.
