Nigeria distributed a total of N2.550 trillion from June 2026 Federation Account revenue across the federal, state and local tiers of government, with the breakdown shared at the July 2026 Federation Account Allocation Committee (FAAC) meeting in Abuja. Bawa Mokwa, director of the Office of the Accountant General of the Federation, announced the figures in a statement issued on Wednesday.
June 2026 Federation Account: what was available and how it was computed
FAAC said the month’s total gross revenue available for allocation reached N4.500 trillion. From this, deductions for the cost of collection amounted to N160.744 billion, while total transfers and refunds were recorded at N1.789 trillion. After these adjustments, the distributable pool that was shared among the three government levels stood at N2.550 trillion.
- Total gross revenue (June 2026): N4.500 trillion
- Cost of collection deductions: N160.744 billion
- Transfers and refunds: N1.789 trillion
- Total distributable revenue: N2.550 trillion
FAAC also detailed that distributable statutory revenue totaled N1.809 trillion, while distributable Value Added Tax (VAT) revenue reached N740.724 billion, together forming the N2.550 trillion allocation pool.
Statutory and VAT receipts: comparisons with the prior month
The committee reported that gross statutory revenue for June 2026 was N3.700 trillion, surpassing the N2.651 trillion recorded in the preceding month by N1.049 trillion. For VAT, FAAC stated that gross revenue available from the Value Added Tax component was N799.746 billion in June 2026, up from N743.688 billion in May 2026 by N56.078 billion.
- Gross statutory revenue (June 2026): N3.700 trillion
- Gross statutory revenue (May 2026): N2.651 trillion
- Increase: N1.049 trillion
- VAT gross revenue available (June 2026): N799.746 billion
- VAT gross revenue available (May 2026): N743.688 billion
- Increase: N56.078 billion
How the N2.550 trillion was shared across federal, states and local councils
From the total distributable revenue pool of N2.550 trillion, FAAC said the federal government received N923.438 billion and state governments received N838.208 billion. Local government councils were allocated N591.390 billion.
In addition, the benefiting states were set to receive derivation revenue totaling N197.610 billion, representing 13% of mineral revenue.
- Federal government: N923.438 billion
- State governments: N838.208 billion
- Local government councils: N591.390 billion
- Derivation revenue to benefiting states: N197.610 billion (13% of mineral revenue)
Breakdown of statutory allocations (N1.809 trillion)
FAAC further broke down the N1.809 trillion distributable statutory revenue. The federal government’s share was N849.366 billion, while state governments received N430.810 billion. Local government councils were allocated N332.136 billion, and benefiting states received derivation revenue of N197.610 billion (again described as 13% of mineral revenue).
- Federal (statutory): N849.366 billion
- States (statutory): N430.810 billion
- Local councils (statutory): N332.136 billion
- Derivation to benefiting states: N197.610 billion (13% of mineral revenue)
Breakdown of VAT allocations (N740.724 billion)
On VAT, FAAC said the distributable Value Added Tax revenue of N740.724 billion was shared as follows: the federal government received N74.072 billion, state governments received N407.398 billion, and local government councils received N259.253 billion.
- Federal (VAT): N74.072 billion
- States (VAT): N407.398 billion
- Local councils (VAT): N259.253 billion
Tax and revenue components: which items rose or fell in June 2026
FAAC highlighted that several revenue lines moved in opposite directions during June 2026. It said Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax (VTA), Import Duty, and CET Levies increased significantly. By contrast, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties, and Fees decreased considerably. Excise duty rose only marginally.
- Increased significantly: Companies Income Tax (CIT), CGT, SDT, Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax (VTA), Import Duty, CET Levies
- Decreased considerably: Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties, Fees
- Excise duty: increased only marginally
