The Federation Account Allocation Committee has shared N2.550 trillion in revenue generated in June 2026 among the Federal Government, 36 states and 774 local government areas, representing a 10.9 per cent increase from the N2.30 trillion distributed in the previous month.
The increase was driven by stronger collections from Companies Income Tax, Capital Gains Tax, Stamp Duty, petroleum royalties, gas flaring, rental income, Minimum Operating Revenue, Value Added Tax, import duties and Common External Tariff levies.
The total distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion in VAT revenue. FAAC reported that gross revenue for June stood at N4.500 trillion, from which N160.744 billion was deducted as the cost of revenue collection, while N1.789 trillion went towards transfers and refunds.
Statutory revenue recorded a significant increase during the month, rising to N3.700 trillion from N2.651 trillion in May, an increase of N1.049 trillion. Gross VAT collections also increased to N799.746 billion from N743.688 billion in May, representing a rise of N56.078 billion.
From the N2.550 trillion shared, the Federal Government received N923.438 billion, while the 36 states received N838.208 billion and local government councils received N591.390 billion. Oil-producing states also received N197.610 billion as their constitutionally approved 13 per cent derivation from mineral revenue.
The statutory revenue component of N1.809 trillion gave the Federal Government N849.366 billion, states N430.810 billion and local governments N332.136 billion, while the N740.724 billion distributable VAT revenue was shared as N74.072 billion to the Federal Government, N407.398 billion to states and N259.253 billion to local governments.
Despite the overall improvement, FAAC noted declines in receipts from Petroleum Profit Tax, Hydrocarbon Tax, mineral royalties and related fees, while excise duty collections recorded only a slight increase.
