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The Federation Account Allocation Committee (FAAC) has distributed the sum of ₦2.3 trillion as May 2026 revenue to the three tiers of government.
The allocation was announced in a statement issued on Wednesday by the Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa, it was reported.
The revenue was shared at the June 2026 FAAC meeting held in Abuja, the statement said.
The amount is up from the ₦2.25 trillion shared by the three tiers of government in April.
Mokwa said the distributable revenue of ₦2.3 trillion comprised statutory revenue of ₦1.611 trillion and Value Added Tax (VAT) revenue of ₦688.785 billion.
The communiqué issued after the meeting said total gross revenue available in May was N3.39tn.
According to the committee, ₦123.54 billion was deducted as cost of collection while ₦971.61 billion was recorded as transfers and refunds.
FAAC further said the gross statutory revenue for May stood at ₦2.65tn, indicating an increase of ₦273.62bn against ₦2.37tn in April.
However, gross VAT revenue fell from ₦806.61 billion in April to ₦743.66 billion in May, a decline of ₦62.94 billion.
FG Receives N818bn
From the ₦2.3tn distributable revenue, it was understood that the Federal Government got ₦818.68bn, while state governments got ₦759.14bn.
Local government councils got N534.27 billion.
The committee also said ₦188.132bn representing 13 per cent of mineral revenue was shared to benefiting states as derivation revenue.
The committee said, “The sum of ₦188.132 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue, while the local government council received ₦534.277 billion.
The communiqué stated that the Federal Government received N749.801bn out of the N1.611tn distributable statutory revenue, while state governments got N380.309bn.
Councils of local governments got ₦293.202bn in statutory revenue.
FAAC also shared ₦188.132bn representing 13 per cent of mineral revenue to benefiting states as derivation revenue, it said.
“The sum of ₦188.132 billion (13 per cent of mineral revenue) was distributed to the benefiting states as derivation revenue and the local government councils received ₦293.202 billion,” the communiqué added.
Drop in VAT Revenue
The Federal Government received ₦68.87bn out of the ₦688.785 billion VAT revenue shared for the month while state governments received ₦378.83bn.
Local government councils received N241.07bn from the VAT pool.
Mokwa said that the revenue from Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax, oil and gas royalties and import duty increased significantly during the period.
However, he pointed out that collections from VAT, excise duty and CET levies went down.
