The Federation Account Allocation Committee (FAAC) has distributed N2.550 trillion in revenue generated for June 2026 to the Federal Government, the 36 state governments and the 774 local government councils across Nigeria.
The latest allocation represents an increase of N250 billion compared to the previous month’s distribution, marking a 10.9 per cent rise and the highest amount ever shared from the Consolidated Revenue Fund.
The increase was largely driven by improved collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty, Value Added Tax (VAT), petroleum royalties, gas flaring, rental income, Minimum Operating Revenue, import duties and Common External Tariff (CET) levies.
According to the FAAC communiqué, total gross revenue for June stood at N4.500 trillion. From this amount, N160.744 billion was deducted as the cost of revenue collection, while N1.789 trillion was used for transfers and refunds before the remaining balance was shared among the three tiers of government.
Gross VAT revenue also recorded growth, increasing from N743.688 billion in May to N799.746 billion in June, representing an increase of N56.078 billion.
Out of the N2.550 trillion distributed, the Federal Government received N923.438 billion, while the 36 states shared N838.208 billion. The 774 local government councils received N591.390 billion, and oil-producing states received N197.610 billion as the constitutionally approved 13 per cent derivation fund.
From the N1.809 trillion statutory revenue, the Federal Government received N849.366 billion, states got N430.810 billion, and local governments received N332.136 billion, while the oil-producing states retained N197.610 billion as derivation revenue.
The N740.724 billion VAT revenue was shared with the Federal Government receiving N74.072 billion, state governments N407.398 billion, and local governments N259.253 billion.
FAAC also reported that while collections from CIT, CGT, VAT, petroleum royalties, import duties and other major revenue sources improved during the month, receipts from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), mineral royalties and related fees declined, with excise duties recording only a marginal increase.
