By Seun Ibiyemi
Nigeria’s three tiers of government shared a total of N2.550 trillion from the Federation Account in June 2026, following the conclusion of the July meeting of the Federation Account Allocation Committee (FAAC) in Abuja.
The Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement issued on Wednesday.
According to the communiqué issued after the meeting, the total distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion generated from Value Added Tax (VAT).
The committee disclosed that total gross revenue available in June stood at N4.500 trillion, out of which N160.744 billion was deducted as the cost of collection, while N1.789 trillion was allocated to transfers and refunds.
A breakdown of the allocation showed that the Federal Government received N923.438 billion, while state governments got N838.208 billion.
Local government councils received N591.390 billion, while oil-producing states received N197.610 billion as derivation revenue, representing 13 per cent of mineral earnings.
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The communiqué further revealed that gross statutory revenue for June amounted to N3.700 trillion, representing an increase of N1.049 trillion from the N2.651 trillion recorded in May.
From the N1.809 trillion distributable statutory revenue, the Federal Government received N849.366 billion, state governments received N430.810 billion, while local government councils got N332.136 billion. The oil-producing states also shared N197.610 billion as derivation revenue.
Similarly, VAT revenue increased to N799.746 billion in June from N743.688 billion in May, reflecting an increase of N56.078 billion.
Of the N740.724 billion distributable VAT revenue, the Federal Government received N74.072 billion, state governments received N407.398 billion, while local government councils got N259.253 billion.
The communiqué noted that revenue from Companies Income Tax, Capital Gains Tax, Stamp Duties, petroleum royalties, gas flaring, rents, miscellaneous oil revenue, VAT, import duties and Common External Tariff levies recorded significant increases during the period.
However, receipts from Petroleum Profit Tax, Hydrocarbon Tax, mineral royalties and fees declined, while excise duties recorded only a marginal increase.
