The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.3 trillion to the Federal Government, state governments and local government councils as revenue allocation for May 2026.
The allocation was confirmed during the June 2026 meeting of the committee and reflects improved revenue performance driven largely by stronger collections from key taxes and petroleum-related sources.
According to details released after the meeting, the distributable revenue consisted of ₦1.611 trillion from statutory revenue and ₦688.785 billion generated through Value Added Tax (VAT).
How the Revenue Was Shared
Of the total amount distributed, the Federal Government received ₦818.680 billion, while the 36 states shared ₦759.141 billion.
Local Government Councils received ₦534.277 billion, while oil-producing states were allocated an additional ₦188.132 billion as 13 per cent derivation revenue.
The allocation represents one of the major monthly revenue distributions used to fund government operations, infrastructure projects and public services across the country.
Statutory Revenue Records Increase
FAAC reported that gross statutory revenue for May rose to ₦2.652 trillion, representing an increase of ₦273.623 billion compared to the figure recorded in April.
The committee attributed the improvement to higher collections from Companies Income Tax (CIT), Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax and oil royalties.
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