The Federation Account Allocation Committee (FAAC) has shared a record ₦2.550 trillion generated in June 2026 among the Federal Government, 36 states and the 774 local government councils.
The June allocation is ₦250 billion higher than the previous month’s distribution, representing a 10.9 per cent increase driven by stronger tax receipts and improved collections from key revenue sources.
According to the Office of the Accountant-General of the Federation, the distributable revenue comprised ₦1.809 trillion in statutory revenue and ₦740.724 billion from Value Added Tax (VAT).
FAAC said total gross revenue for June stood at ₦4.500 trillion, with ₦160.744 billion deducted as collection costs and ₦1.789 trillion set aside for transfers and refunds before distribution.
The Federal Government received ₦923.438 billion, state governments got ₦838.208 billion, while local government councils shared ₦591.390 billion. Oil-producing states also received ₦197.610 billion as the constitutionally approved 13 per cent derivation.
The committee reported that gross statutory revenue rose to ₦3.700 trillion from ₦2.651 trillion in May, while VAT collections increased to ₦799.746 billion, compared to ₦743.688 billion recorded in the previous month.
FAAC attributed the improved revenue to higher collections from Companies Income Tax, Capital Gains Tax, Stamp Duty, petroleum royalties, VAT, import duties and Common External Tariff levies, although receipts from Petroleum Profit Tax, Hydrocarbon Tax and mineral royalties declined.
