A total of ₦2.300 trillion—representing revenue for May 2026 under the Federation Account—has been distributed among the federal government, state governments and local government councils. The breakdown was announced on Wednesday by Bawa Mokwa, spokesperson for the Office of the Accountant General of the Federation, following the June 2026 Federation Account Allocation Committee (FAAC) meeting in Abuja.
The ₦2.300 trillion distributable figure comprised ₦1.611 trillion in distributable statutory revenue and ₦688.785 billion from distributable Value Added Tax (VAT). The FAAC communiqué also put total gross revenue for May 2026 at ₦3.395 trillion, after accounting for a ₦123.546 billion cost of collection and ₦971.610 billion in transfers and refunds.
For statutory collections, the communiqué stated that gross statutory revenue reached ₦2.651 trillion in May 2026. That level was higher than the ₦2.378 trillion recorded in the previous month, an increase of ₦273.623 billion. On VAT, gross revenue available was ₦743.668 billion for May 2026, down from ₦806.617 billion in April 2026—falling by ₦62.949 billion.
Out of the ₦2.300 trillion distributable pool, the federal government received ₦818.680 billion, while state governments collectively took ₦759.141 billion. Local government councils received ₦534.277 billion. In addition, ₦188.132 billion—representing 13% of mineral revenue—was allocated to benefiting states as derivation revenue.
Looking specifically at the ₦1.611 trillion distributable statutory revenue, the federal government’s share was ₦749.801 billion and states received ₦380.309 billion. Local government councils obtained ₦293.202 billion, alongside the ₦188.132 billion derivation allocation for states from mineral revenue.
From the ₦688.785 billion distributable VAT component, the federal government received ₦68.879 billion. States received ₦378.832 billion, while local government councils got ₦241.075 billion.
The communiqué noted that in May 2026, several revenue lines rose sharply, including Companies Income Tax (CIT), CGT, SDT, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil and Gas Royalty. Meanwhile, Import Duty, VAT, Excise Duty and CET Levies declined significantly during the same period.
