The Federal Government, States and the Local Government Councils have shared a total sum of N2.3 trillion, being May 2026 Federation Account Revenue, at the June 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
Bawa Mokwa, Director (Press and Public Relations) at the Office of the Accountant General of the Federation in a statement disclosed that the N2.3 trillion total distributable revenue comprised distributable statutory revenue of N1.611 trillion , distributable Value Added Tax (VAT) revenue of N688.785 billion.
He stated that a communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N3.395 trillion was available in the month of May 2026. Total deduction for cost of collection was N123.546 billion while total transfers and refunds was N971.610 billion.
According to the communiqué, gross statutory revenue of N2.651 trillion was received for the month of May 2026. This was higher than the sum of N2.378 trillion received in the preceding month by N273.623 billion.
Gross revenue of N743.668 billion was available from the Value Added Tax (VAT) in May 2026. This was lower than the N806.617 billion available in the month of April 2026 by N62.949 billion.
The communiqué stated that from the N2.3 trillion total distributable revenue, the Federal Government received total sum of N818.680 billion and the State Governments received total sum of N759.141 billion. Local government Council received N534.277 billion, while the sum of N188.132 billion (13% of mineral revenue) was shared to the benefiting State as derivation revenue.
On the N1.611 trillion distributable statutory revenue, the Federal Government received N749.801 billion and the State Governments received N380.309 billion. Local Government Councils received N293.202 billion and the sum of N188.132 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
Also shared was N688.785 billion distributable Value Added Tax (VAT) revenue where the Federal Government received N68.879 billion, the State Governments received N378.832 billion and the Local Government Councils received N241.075 billion.
Mokwa disclosed that Companies income Tax (CIT), CGT, SDT, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty increased significantly while Import Duty, Value Added Tax (VTA), Excise Duty and CET Levies decreased considerably in the month of may 2026.
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