The Federation Account Allocation Committee (FAAC) has distributed a total of N2.300 trillion from the May 2026 Federation Account revenue to the federal government, state governments, and local government councils.
The allocation was approved during the June 2026 FAAC meeting held in Abuja, according to a statement issued on Wednesday by the spokesperson of the Office of the Accountant General of the Federation, Bawa Mokwa.
The distributable revenue comprised N1.611 trillion in statutory revenue and N688.785 billion generated from Value Added Tax (VAT).
A communiqué released after the meeting revealed that the total gross revenue available in May 2026 stood at N3.395 trillion. From this amount, N123.546 billion was deducted as the cost of collection, while N971.610 billion was earmarked for transfers, interventions, and refunds.
The committee disclosed that gross statutory revenue for May rose to N2.651 trillion, representing an increase of N273.623 billion compared to the N2.378 trillion recorded in April 2026.
However, VAT collections declined during the period. Gross VAT revenue for May stood at N743.668 billion, lower than the N806.617 billion generated in April, reflecting a decrease of N62.949 billion.
A breakdown of the N2.300 trillion shared showed that the federal government received N818.680 billion, while state governments got N759.141 billion. Local government councils received N534.277 billion, while oil-producing states received N188.132 billion as 13 per cent derivation revenue.
From the N1.611 trillion statutory revenue allocation, the federal government received N749.801 billion, states received N380.309 billion, and local governments received N293.202 billion. The oil-producing states also received N188.132 billion as derivation revenue.
Similarly, from the N688.785 billion VAT revenue distributed, the federal government received N68.879 billion, states received N378.832 billion, while local governments got N241.075 billion.
FAAC further noted that revenues from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties Tax (SDT), Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil and Gas Royalties recorded significant increases during the month.
In contrast, collections from Import Duty, Value Added Tax (VAT), Excise Duty, and Common External Tariff (CET) Levies witnessed notable declines.
 has shared N2.3 trillion in May 2026 revenue among the federal, state, and local governments, with increased earnings from oil-related taxes boosting allocations.%%primary_category%% %%sitename%% %%title%% %%sep%%){kind=link}