Barbara Bako, Abuja.
The Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion as June 2026 revenue among the Federal Government, state governments and the 774 local government councils.
The allocation was approved at the FAAC meeting held in Abuja in July, according to a communiqué issued after the meeting.
The committee said the distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion from Value Added Tax (VAT).
It explained that a total gross revenue of N4.500 trillion was available in June, from which N160.744 billion was deducted as the cost of collection, while N1.789 trillion was set aside for transfers and refunds.
The communiqué noted that gross statutory revenue for the month stood at N3.700 trillion, representing an increase of N1.049 trillion from the N2.651 trillion recorded in May 2026.
Similarly, gross VAT revenue rose to N799.746 billion in June from N743.688 billion in the preceding month, reflecting an increase of N56.078 billion.
Of the total distributable revenue, the Federal Government received N923.438 billion, while the 36 states received N838.208 billion. The 774 local government councils received N591.390 billion, while N197.610 billion, representing 13 per cent of mineral revenue, was distributed to eligible oil-producing states as derivation revenue.
The communiqué further showed that from the N1.809 trillion statutory revenue, the Federal Government received N849.366 billion, states received N430.810 billion, while local governments got N332.136 billion. The oil-producing states also received N197.610 billion as derivation revenue.
From the N740.724 billion VAT revenue, the Federal Government received N74.072 billion, states received N407.398 billion, while local governments received N259.253 billion.
FAAC also reported that collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), petroleum royalties, gas flared revenue, rental and miscellaneous oil revenue (MOR), Value Added Tax (VAT), import duty and Common External Tariff (CET) levies recorded significant increases during the month.
However, revenue from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), mineral royalties and fees declined considerably, while excise duty posted only a marginal increase.
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