FG, States, LGs Share N2.6 Trillion FAAC Revenue for June

The Federation Account Allocation Committee (FAAC) has disbursed a total of ₦2.551 trillion to the Federal Government, 36 states, and 774 local government councils as Federation Account revenue for June 2026. This distribution was the central outcome of the FAAC meeting held in Abuja and chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele.

The shared amount comprised ₦1.810 trillion from Statutory Revenue and ₦740.724 billion from Value Added Tax (VAT). From the Statutory Revenue, the Federal Government received ₦849.366 billion, state governments secured ₦430.810 billion, and local government councils were allocated ₦332.136 billion. Additionally, oil-producing states received ₦197.610 billion as a 13% derivation fund.

In the VAT distribution, the Federal Government obtained ₦74.072 billion, state governments received ₦407.398 billion, and local government councils were allocated ₦259.253 billion. Cumulatively, the Federal Government received ₦923.438 billion, state governments ₦838.208 billion, and local government councils ₦591.390 billion, with the 13% derivation fund amounting to ₦197.610 billion for oil-producing states.

The FAAC reported that the gross revenue available in June 2026 reached ₦4.501 trillion. This figure includes ₦3.701 trillion in statutory revenue and ₦799.746 billion in gross VAT collections. Gross statutory revenue saw a significant increase of ₦1.049 trillion compared to May 2026, driven by higher receipts from Companies Income Tax, VAT, Import Duty, Customs Excise Tariff Levies, Petroleum Royalties, Gas Flared Penalties, Rental Income, and Miscellaneous Oil Revenue. However, collections from Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties, and Fees experienced declines. Gross VAT revenue also rose from ₦743.668 billion in May to ₦799.746 billion in June, an increase of ₦56.078 billion.