The Federation Account Allocation Committee (FAAC) has shared ₦2.3 trillion generated as revenue for May 2026 among the Federal Government, states and local government councils.
The allocation was announced after the committee’s June 2026 meeting in Abuja, according to a statement issued by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa.
The amount distributed is higher than the ₦2.25 trillion shared in April, reflecting improved revenue inflows during the period.
FAAC disclosed that the distributable revenue consisted of ₦1.611 trillion from statutory earnings and ₦688.785 billion from Value Added Tax (VAT). Total gross revenue available in May stood at ₦3.39 trillion, with ₦123.54 billion deducted as collection costs and ₦971.61 billion accounted for as transfers, interventions and refunds.
The committee noted that gross statutory revenue rose to ₦2.65 trillion in May, representing an increase of ₦273.62 billion compared to the ₦2.37 trillion recorded in April. However, VAT collections dropped by ₦62.94 billion, falling from ₦806.61 billion in April to ₦743.66 billion in May.
From the ₦2.3 trillion shared, the Federal Government received ₦818.68 billion, while state governments were allocated ₦759.14 billion. Local government councils received ₦534.27 billion.
In addition, oil-producing states received ₦188.13 billion as derivation revenue, representing 13 per cent of mineral earnings.
A breakdown of the statutory revenue allocation shows that the Federal Government received ₦749.8 billion, states got ₦380.31 billion, while local government councils received ₦293.2 billion. The derivation fund of ₦188.13 billion was also distributed to eligible states.
From the ₦688.79 billion VAT pool, the Federal Government received ₦68.87 billion, states got ₦378.83 billion, while local government councils received ₦241.07 billion.
Mokwa further stated that collections from Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalties, and import duties recorded significant growth during the month. However, revenue generated from VAT, excise duties and Common External Tariff levies declined.
READ ALSO:
- Connect Youth In Dialogue Summit Returns With A Focus On Action And Accountability
- Widow of Bus Driver Allegedly Killed by Nigerian Air Force Officers Demands Justice, Government Support
- Nigeria’s 36 Governors Back Creation of State Police
- FAAC Distributes ₦2.3tn May Revenue, FG Receives ₦818bn
- Diezani’s Acquittal: FG, EFCC Must Explain — Arise TV’s Sambo
