States Bag ₦759bn, FG Gets ₦818bn As FAAC Shares May Revenue

According to Ireporter Online, the Federation Account Allocation Committee (FAAC) has shared a total of ₦2.3 trillion among the federal, state, and local governments as revenue for May 2026.

The distribution was disclosed in a statement released on Wednesday by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, following the June 2026 FAAC meeting held in Abuja.

The figure represents an increase from the ₦2.25 trillion distributed in April.

Mokwa stated that the total distributable revenue for the month consisted of ₦1.611 trillion from statutory revenue and ₦688.785 billion from Value Added Tax (VAT). He added that the total gross revenue available in May stood at ₦3.39 trillion, with ₦123.54 billion deducted as cost of collection and ₦971.61 billion accounted for as transfers and refunds.

Statutory revenue rose to ₦2.65 trillion in May, reflecting an increase of ₦273.62 billion compared to April’s ₦2.37 trillion. However, VAT collections declined to ₦743.66 billion from ₦806.61 billion recorded in the previous month.

From the shared ₦2.3 trillion, the Federal Government received ₦818.68 billion, states got ₦759.14 billion, while local government councils received ₦534.27 billion. In addition, ₦188.132 billion, representing 13 per cent of mineral revenue, was distributed as derivation revenue to eligible states.

Further breakdown showed that from the statutory revenue component alone, the Federal Government got ₦749.801 billion, states received ₦380.309 billion, and local governments got ₦293.202 billion.

From VAT, the Federal Government received ₦68.87 billion, states received ₦378.83 billion, while local governments got ₦241.07 billion.

The committee noted that revenues from sources such as Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalties, and import duties recorded increases during the period. However, collections from VAT, excise duties, and Common External Tariff levies declined.