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FG, states, LGs share N2.3tn FAAC revenue for May 2026
The sum of N2.3tn was share among the Federal Government, states and local government councils by the Federal Account Allocation Committee.
The shared sum for May 2026 revenue saw an increase of N43bn from the N2.26tn distributed in April, marking a 1.9 percent month-on-month increase, and continuing the upward progression in federal revenues.
The Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement on Wednesday after the Federation Account Allocation Committee meeting for June 2026, held in Abuja.
The statement read in part: “A total sum of N2.300tn, being May 2026 Federation Account Revenue, has been shared to the Federal Government, states and the local government councils.”
According to the statement, the N2.3tn distributable revenue is made up of N1.611tn statutory revenue and N688.785bn revenue from Value Added Tax.
The total gross revenue available in May amounted to N3.395tn, from which N123.546bn was deducted as the cost of collection, while N971.610bn was set aside for transfers and refunds.
This was contained in a communique issued after the meeting, as the committee reported progressive growth in statutory revenue collections during the month, except for VAT collections which declined during the period.
According to the communique, “In May 2026, Companies Income Tax, CGT, SDT, Petroleum Profit Tax, Hydrocarbon Tax, Oil and Gas Royalty increased significantly, while Import Duty, Value Added Tax, Excise Duty and CET Levies decreased considerably.”
The distribution of the N2.300tn saw the sum of N818.680bn going to the Federal Government, while state governments received N759.141bn.
The 774 local government councils received N534.277bn while oil-producing states shared N188.132bn as 13 percent derivation revenue.
From the N1.611tn statutory revenue, the Federal Government received N749.801bn, states got N380.309bn, local governments received N293.202bn, while oil-producing states got N188.132bn as derivation.
From the N688.785bn VAT revenue, the Federal Government received N68.879bn, states got N378.832bn, while local government councils received N241.075bn.
