Federation Account Allocation Committee (FAAC) has shared a total of N2.55tn among the Federal Government, 36 states and 774 local government councils from the June 2026 federation revenue.
The allocation represents an increase of N250bn, or 10.9 per cent, from the N2.3tn distributed in May, extending the upward trend in federation revenues recorded this year.
The details 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 distributable revenue comprised N1.81tn from statutory revenue and N740.72bn from Value Added Tax (VAT).
It stated that gross revenue available in June stood at N4.5tn, from which N160.74bn was deducted as cost of collection, while N1.79tn was set aside for transfers, interventions and refunds.
FAAC reported a significant increase in statutory revenue during the month, with gross statutory revenue rising to N3.7tn in June from N2.65tn in May, representing an increase of N1.05tn.
Similarly, gross VAT revenue increased to N799.75bn from N743.69bn in May, indicating a growth of N56.08bn.
The committee attributed the improved performance to stronger collections from key revenue sources, including Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, petroleum royalties, gas flaring penalties, VAT, import duties and Common External Tariff (CET) levies.
However, revenues from Petroleum Profit Tax (PPT), Hydrocarbon Tax, mineral royalties and related fees recorded declines, while excise duty posted only marginal growth.
Of the N2.55tn distributed, the Federal Government received N923.44bn, state governments got N838.21bn, while local government councils received N591.39bn.
Oil-producing states also received N197.61bn as 13 per cent derivation revenue.
A breakdown of the statutory revenue allocation showed that the Federal Government received N849.37bn, states received N430.81bn and local governments got N332.14bn, while the oil-producing states received the entire N197.61bn derivation allocation.
From the N740.72bn distributable VAT revenue, the Federal Government received N74.07bn, states received N407.4bn, while local governments got N259.25bn.
The June allocation is one of the highest recorded this year, continuing a steady increase in federation revenues. FAAC had shared N2.3tn from May revenue, N2.26tn from April revenue, N2.04tn from March revenue and N1.89tn from February revenue.
The improved collections are expected to boost fiscal capacity across the three tiers of government and provide additional resources for the implementation of budgetary programmes and projects.
