FAAC shares N2.550trn June revenue to FG, states, LGs

The Federation Account Allocation Committee (FAAC) has distributed N2.550 trillion to the Federal Government, States, and the Local Government Councils as the June 2026 Federation Account Revenue.

The Director of Press and Public Relations in the Office of the Accountant-General of the Federation (OAGF), Bawa Mokwa, disclosed this in a statement issued on Wednesday, July 15, 2026.

The FAAC said the revenue was shared at the July meeting of the committee.

The FAAC stated that N2.550 trillion distributable revenue comprised statutory revenue of N1.809 trillion, Value Added Tax (VAT) of N740.724 billion.

The committee stated that the gross revenue of N4.500 trillion was available in the month of June.

It said a total deduction for cost of collection was N160.744 billion while total transfers and refunds stood at N1.789 trillion.

The FAAC disclosed that the statutory revenue of N3.700 trillion was received in June, saying this was higher than the sum of N2.651 trillion received in May by N1.049 trillion.

The FAAC said the gross revenue of N799.746 billion was available from the VAT in June, noting that this was higher than the N743.688 billion available in May by N56.078 billion.

The committee said from the N2.550 trillion revenue, the federal government received N923.438 billion and the state governments received N838.208 billion.

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It stated that the local government councils received N591.390 billion, while the sum of N197.610 billion (13 per cent of mineral revenue) was shared to the benefiting state as derivation revenue.

On the N1.809 trillion statutory revenue, the FAAC stated that the federal government received N849.366 billion and the state governments received N430.810 billion.

The FAAC disclosed that the local government councils received N332.136 billion, while N197.610 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

The committee revealed that from the N740.724 billion VAT revenue, the federal government received N74.072 billion, state governments received N407.398 billion, and local government councils received N259.253 billion.

The FAAC added that VAT, Companies income Tax (CIT), CGT, SDT, Petroleum Royalties, and Gas Flared increased significantly in June.

It noted that Import Duty and CET Levies increase significantly, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees decrease considerably.

It added that Excise Duty increased marginally.