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 distribution was approved during the July 2026 FAAC meeting held in Abuja, according to a statement issued on Wednesday by the Director of the Office of the Accountant General of the Federation, Bawa Mokwa.
The committee said the distributable revenue consisted of ₦1.809 trillion from statutory revenue and ₦740.724 billion from Value Added Tax (VAT).
Out of the total allocation, the Federal Government received ₦923.438 billion, the 36 states received ₦838.208 billion, while the 774 local government councils got ₦591.390 billion. Oil-producing states also received ₦197.610 billion as 13 per cent derivation revenue.
FAAC disclosed that the total gross revenue available for June stood at ₦4.500 trillion. From this amount, ₦160.744 billion was deducted as the cost of collection, while ₦1.789 trillion was set aside for transfers, interventions and refunds.
The committee further explained that from the statutory revenue, the Federal Government received ₦849.366 billion, states got ₦430.810 billion, local governments received ₦332.136 billion, while ₦197.610 billion was paid as derivation revenue.
From the VAT revenue, the Federal Government received ₦74.072 billion, states got ₦407.398 billion, and local government councils received ₦259.253 billion.
FAAC also reported an increase in revenue generation for June. Gross statutory revenue rose from ₦2.651 trillion in May to ₦3.700 trillion in June, while gross VAT collections increased from ₦743.688 billion to ₦799.746 billion.
According to the committee, the revenue growth was driven by higher collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, Petroleum Royalties, Gas Flared, Rental and Miscellaneous Oil Revenue, VAT, Import Duty and CET Levies.
However, receipts from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees declined, while excise duty recorded only a slight increase.
