States Get ₦759 Billion, FG ₦818 Billion As FAAC Shares May Revenue

The Federation Account Allocation Committee (FAAC) has distributed ₦2.3 trillion as May 2026 revenue to the federal, state and local governments.

Naija News reports that the allocation was announced in a statement issued on Wednesday by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa.

According to the statement, the revenue was shared at the June 2026 FAAC meeting held in Abuja.

The amount represents an increase from the ₦2.25 trillion shared by the three tiers of government in April.

Mokwa said the ₦2.3 trillion distributable revenue comprised ₦1.611 trillion statutory revenue and ₦688.785 billion Value Added Tax (VAT) revenue.

According to the communiqué issued after the meeting, total gross revenue available in May stood at ₦3.39tn.

The committee said ₦123.54 billion was deducted as cost of collection, while ₦971.61 billion was recorded as transfers and refunds.

FAAC added that gross statutory revenue for May stood at ₦2.65tn, showing an increase of ₦273.62bn when compared with the ₦2.37tn recorded in April.

However, gross VAT revenue declined from ₦806.61 billion in April to ₦ 743.66 billion in May, representing a drop of ₦ 62.94 billion.

FG Receives ₦818 Billion

Naija News understands that from the ₦2.3tn distributable revenue, the Federal Government received ₦818.68bn, while state governments got ₦759.14bn.

Local government councils received ₦534.27bn.

The committee also said ₦188.132bn, representing 13 per cent of mineral revenue, was shared to benefiting states as derivation revenue.

“The local government council received ₦534.277 billion, while the sum of ₦188.132 billion (13 percent of mineral revenue) was shared to the benefiting states as derivation revenue,” the committee said.

On the ₦1.611tn distributable statutory revenue, the communiqué stated that the Federal Government received ₦749.801bn, while state governments received ₦380.309bn.

Local government councils got ₦293.202bn from the statutory revenue.

FAAC said the sum of ₦188.132bn, representing 13 per cent of mineral revenue, was also shared to benefiting states as derivation revenue.

“The local government councils received ₦293.202 billion and the sum of ₦188.132 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue,” the communiqué added.

VAT Revenue Declines

From the ₦688.785 billion VAT revenue shared for the month, the Federal Government received ₦68.87bn, while state governments got ₦378.83bn.

Local government councils received ₦241.07bn from the VAT pool.

Mokwa said revenue from Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalties, and import duty recorded significant increases during the period.

He, however, noted that collections from VAT, excise duty and Common External Tariff levies declined.