FAAC shares N3.007trn July revenue to FG, States, LGs

The Federation Account Allocation Committee (FAAC) has distributed N3.007 trillion to the Federal Government, the State Governments and the Local Government Councils as revenue for July 2026.

The FAAC disclosed this via a statement issued by the Director of Press and Public Relations, Office of the Accountant-General of the Federation, Bawa Mokwa, on Tuesday, August 18, 2026.

The committee noted that the Federal Government received total sum of N1.146 trillion, the State Governments received total sum of N943.352 billion, while the Local Government Council received N673.649 billion.

It stated that the sum of N243.478 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.

The FAAC disclosed that gross statutory revenue rose to N4.359 trillion in July 2026, representing a 17.8% increase – from N3.700 trillion recorded in June 2026.

The FAAC said gross Value Added Tax (VAT) revenue held broadly steady at N793.968 billion, a marginal decline of N5.778 billion (0.7%) from N799.746 billion in June, suggesting consumption-tax receipts remain resilient month-on-month.

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The committee attributed the month’s gains to broad-based strength across several revenue lines.

It said Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), Petroleum Royalties, Mineral Royalties, Excise Duty, and Gas Flared Penalty recorded significant increases in July 2026, pointing to firmer compliance and collection efficiency across both oil and non-oil channels.

It added that the gains were partly offset by declines in VAT, Import Duty, CET Levies, Rental of Gas Flared Fee, and Miscellaneous Oil Revenue, which the committee said it will continue to monitor as it works with revenue-generating agencies to close collection gaps and improve remittance discipline.