By Abiodun Folarin
WorldStage– Nigeria’s Federation Account Allocation Committee (FAAC), on Wednesday, shared a total of ₦2.550 trillion among the federal government, the 36 states, and the 774 local government councils as revenue allocation for June 2026.
A statement signed by the Director of Press in the Office of the Accountant General of the Federation, Bawa Mokwa, said the revenue was shared at the July 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
He said: “The ₦2.550 trillion total distributable revenue comprised ₦1.809 trillion in distributable statutory revenue and ₦740.724 billion in distributable Value Added Tax (VAT) revenue.”
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that a total gross revenue of ₦4.500 trillion was available in June 2026. Total deductions for the cost of collection amounted to ₦160.744 billion, while total transfers and refunds stood at ₦1.789 trillion.
According to the communiqué, gross statutory revenue of ₦3.700 trillion was received in June 2026. This was ₦1.049 trillion higher than the ₦2.651 trillion received in the preceding month.
Gross revenue of ₦799.746 billion was generated from Value Added Tax (VAT) in June 2026. This was ₦56.058 billion higher than the ₦743.688 billion recorded in May 2026.
The communiqué stated that from the ₦2.550 trillion total distributable revenue, the Federal Government received ₦923.438 billion, while the state governments received ₦838.208 billion.
The local government councils received ₦591.390 billion, while ₦197.610 billion, representing 13 per cent of mineral revenue, was allocated to the benefiting states as derivation revenue.
From the ₦1.809 trillion distributable statutory revenue, the Federal Government received ₦849.366 billion, while the state governments received ₦430.810 billion.
The local government councils received ₦332.136 billion, while ₦197.610 billion, representing 13 per cent of mineral revenue, was shared to the benefiting states as derivation revenue.
From the ₦740.724 billion distributable Value Added Tax (VAT) revenue, the Federal Government received ₦74.072 billion, the state governments received ₦407.398 billion, and the local government councils received ₦259.253 billion.
The communiqué further stated that in June 2026, collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flare Penalties, Rent, Mineral Oil Royalties (MOR), Value Added Tax (VAT), Import Duty, and Common External Tariff (CET) Levies increased significantly, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties, and Fees declined considerably. Excise Duty recorded only a marginal increase.
