The Federation Account Allocation Committee has shared a total of N2.55tn among the Federal Government, the 36 states and the 774 local government councils as revenue allocation for June 2026, marking a N250bn increase from the N2.3tn distributed in May.
The latest disbursement represents a 10.9 per cent month-on-month increase, continuing the steady growth in federation revenues recorded in recent months.
The figures were contained in a communiqué issued after the July 2026 FAAC meeting in Abuja and signed by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa.
According to the communiqué, the N2.55tn distributable revenue comprised N1.81tn statutory revenue and N740.72bn from Value Added Tax (VAT).
It disclosed that the Federal Government received N923.44bn, while the 36 state governments shared N838.21bn.
The 774 local government councils received N591.39bn, while oil-producing states got N197.61bn as 13 per cent derivation revenue.
FAAC also revealed that the gross revenue available in June stood at N4.5tn, out of which N160.74bn was deducted as the cost of collection, while N1.79tn was recorded as transfers, interventions and refunds.
A breakdown of the statutory revenue allocation showed that the Federal Government received N849.37bn, states got N430.81bn, while local governments received N332.14bn. Oil-producing states also received N197.61bn from statutory revenue as derivation.
From the N740.72bn VAT revenue, the Federal Government received N74.07bn, states got N407.4bn, while local government councils received N259.25bn.
The committee attributed the increase in revenue to improved collections from key revenue streams.
It stated that Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Royalties, Gas Flared revenue, Rental and Mineral Oil Revenue, VAT, Import Duty and Common External Tariff Levies recorded significant increases during the month.
However, it noted that Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties and Fees declined considerably, while Excise Duty posted only a marginal increase.
The communiqué further showed that gross statutory revenue rose sharply from N2.65tn in May to N3.7tn in June, representing an increase of N1.05tn.
Similarly, gross VAT revenue increased from N743.69bn in May to N799.75bn in June, reflecting a growth of N56.08bn.
The June allocation extends the upward trend in FAAC distributions this year.
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