Metro
FAAC Shares N2.55tn June 2026 Revenue To FG, States, LG’s
The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.551 trillion as Federation Account revenue for June 2026 to the Federal Government, the 36 states and the 774 local government councils….
The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.551 trillion as Federation Account revenue for June 2026 to the Federal Government, the 36 states and the 774 local government councils.
A statement issued on Wednesday by the Director of the Office of the Accountant General of the Federation, Bawa Mokwa, said the allocation was approved at the July 2026 FAAC meeting in Abuja.
According to the communiqué, the distributable revenue comprised ₦1.809 trillion from statutory revenue and ₦740.724 billion from Value Added Tax (VAT).
FAAC said total gross revenue available for June stood at ₦4.500 trillion, with ₦160.744 billion deducted as the cost of collection and ₦1.789 trillion earmarked for transfers, interventions and refunds.
Of the ₦2.551 trillion shared, the Federal Government received ₦923.438 billion, the 36 states got ₦838.208 billion, while the 774 local government councils received ₦591.390 billion. Oil-producing states also shared ₦197.610 billion as 13 per cent derivation revenue.
The committee said the Federal Government received ₦849.366 billion from the ₦1.809 trillion statutory revenue, while states received ₦430.810 billion, local governments got ₦332.136 billion and ₦197.610 billion was paid as derivation revenue.
From the ₦740.724 billion generated through VAT, the Federal Government received ₦74.072 billion, states got ₦407.398 billion and local governments received ₦259.253 billion.
FAAC noted that gross statutory revenue rose from ₦2.651 trillion in May to ₦3.700 trillion in June, an increase of ₦1.049 trillion.
Gross VAT collections also increased from ₦743.688 billion in May to ₦799.746 billion in June.
The committee attributed the improved revenue performance to higher receipts from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flared, Rental and Miscellaneous Oil Revenue (MOR), VAT, Import Duty and CET Levies.
However, collections from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees declined, while excise duty recorded only a marginal increase.
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