The Federation Account Allocation Committee (FAAC) has shared N2.55 trillion among the Federal Government, state governments and local government councils from revenue generated in June 2026.
The allocation represents an increase of N250 billion from the N2.3 trillion distributed in the previous month, according to a statement issued after the committee’s meeting in Abuja on Wednesday.
The Office of the Accountant-General of the Federation said the distributable revenue comprised N1.81 trillion statutory revenue and N740.72 billion Value Added Tax revenue.
From the total allocation, the Federal Government received N923.44 billion, states received N838.21 billion, while local government councils got N591.39 billion. Oil-producing states also received N197.61 billion as 13 per cent derivation revenue.
The committee attributed the increase in revenue to improved collections from Companies Income Tax, petroleum royalties, Value Added Tax, import duties and other major revenue sources.
FAAC noted that gross statutory revenue rose from N2.65 trillion in May to N3.7 trillion in June, while VAT collections also increased during the period.
