The Federal government, 36 states and the 774 local government councils have shared a total of N2.550 trillion as revenue allocation for June 2026.
The allocation was approved at the July 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja.
According to a statement by Bawa Mokwa, director of press and public relations, the total distributable revenue comprised N1.809 trillion from statutory revenue and N740.724 billion from Value Added Tax (VAT) proceeds.
A communiqué issued after the meeting showed that the Federation recorded a gross revenue of N4.500 trillion in June, while deductions for collection costs amounted to N160.744 billion. Transfers and refunds stood at N1.789 trillion.
The gross statutory revenue for the month was N3.700 trillion, representing an increase of N1.049 trillion compared with the N2.651 trillion recorded in May 2026.
VAT revenue also rose to N799.746 billion in June from N743.688 billion in May, indicating an increase of N56.078 billion.
From the total distributable revenue of N2.550 trillion, the Federal Government received N923.438 billion, states got N838.208 billion, while local government councils received N591.390 billion.
In addition, N197.610 billion, representing 13 per cent derivation revenue from mineral resources, was shared among benefiting states.
A breakdown of the statutory revenue component showed that the Federal Government received N849.366 billion, states got N430.810 billion, and local governments received N332.136 billion. The benefiting states also received N197.610 billion as mineral revenue derivation.
For the VAT component, the Federal Government received N74.072 billion, state governments got N407.398 billion, while local government councils received N259.253 billion.
The FAAC communiqué indicated that revenue from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), petroleum royalties, gas flaring charges, rental and miscellaneous oil revenue, VAT, import duty and CET levies recorded significant increases during the month.
However, receipts from Petroleum Profit Tax (PPT), Hydrocarbon Tax, mineral royalties and fees declined, while excise duty recorded a marginal increase.
The latest allocation represents one of the highest monthly disbursements in recent periods, reflecting improved statutory and VAT collections available for distribution among the three tiers of government.
