FAAC shares ₦2.551tn June revenue among FG, states, LGs

The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.551 trillion as Federation Account revenue for June 2026 among the Federal Government, the 36 states and the 774 local government councils.

The allocation was approved at FAAC’s July 2026 meeting held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele. The meeting was attended by the Accountant General of the Federation, state commissioners of finance and other members of the committee.

According to a statement issued on Wednesday by the Head of Information and Public Relations, Efe Ovuakporie, “the amount distributed comprised ₦1.810 trillion in Statutory Revenue and ₦740.724 billion from Value Added Tax (VAT).”

The statement added that “the Federal Government received ₦923.438 billion, the State Governments ₦838.208 billion, the Local Government Councils ₦591.390 billion, while ₦197.610 billion was shared as 13 per cent derivation to the oil producing States.”

A breakdown of the statutory revenue showed that the Federal Government received ₦849.366 billion, the states ₦430.810 billion, and the local government councils ₦332.136 billion, while oil-producing states got ₦197.610 billion as 13 per cent derivation.

From the VAT revenue, the Federal Government received ₦74.072 billion, the state governments ₦407.398 billion, while the local government councils received ₦259.253 billion.

The committee said gross revenue available in June 2026 stood at ₦4.501 trillion, comprising ₦3.701 trillion in statutory revenue and ₦799.746 billion in gross VAT collections.

Highlighting the month’s performance, FAAC said, “The Committee observed a strong improvement in revenue performance during the month.” It added that “Gross statutory revenue increased by ₦1.049 trillion over the figure recorded in May 2026.”

According to the statement, the increase was driven by “higher receipts from Companies Income Tax, Value Added Tax, Import Duty, Customs Excise Tariff Levies, Petroleum Royalties, Gas Flared Penalties, Rental Income and Miscellaneous Oil Revenue.”