FAAC Shares N2.3 Trillion May 2026 Revenue as FG Gets N818.68bn, States Receive N759.14bn
FAAC — A total of N2.300 trillion from the May 2026 Federation Account revenue has been distributed among the Federal Government, state governments, and the 774 local government councils across Nigeria.
Details of the allocation were contained in a statement obtained by PulseNets on Wednesday from the Office of the Accountant General of the Federation through its spokesperson, Bawa Mokwa.
PulseNets learnt that the revenue distribution was approved during the June 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja.
The total distributable revenue of N2.300 trillion comprised N1.611 trillion as distributable statutory revenue and N688.785 billion from Value Added Tax (VAT) proceeds.
According to a communiqué issued by FAAC and obtained by PulseNets, a total gross revenue of N3.395 trillion was available in May 2026. The committee disclosed that N123.546 billion was deducted as the cost of collection, while transfers, interventions, refunds, and savings amounted to N971.610 billion.
The communiqué further indicated that gross statutory revenue for May 2026 stood at N2.651 trillion. PulseNets reports that this figure exceeded the N2.378 trillion recorded in April 2026 by N273.623 billion.
FAAC also disclosed that gross Value Added Tax revenue available in May 2026 was N743.668 billion. This represented a decline of N62.949 billion compared to the N806.617 billion generated in April 2026.
From the N2.300 trillion distributable revenue, the Federal Government received N818.680 billion, while state governments collectively received N759.141 billion.
Local government councils received N534.277 billion, while oil-producing states shared N188.132 billion as derivation revenue, representing 13 per cent of mineral revenue.
On the N1.611 trillion distributable statutory revenue, the Federal Government received N749.801 billion, while states received N380.309 billion.
The communiqué obtained by PulseNets showed that local government councils received N293.202 billion from the statutory allocation, while N188.132 billion was distributed to benefiting states as derivation revenue.
From the N688.785 billion distributable VAT revenue, the Federal Government received N68.879 billion. State governments received N378.832 billion, while local government councils received N241.075 billion.
Also Read: FAAC Shares ₦2.103 Trillion to Federal, State, and Local Governments for September 2025
FAAC noted that revenue performance during May 2026 recorded significant increases in Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT), Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil and Gas Royalty collections.
However, the committee reported declines in Import Duty collections, Value Added Tax (VAT), Excise Duty, and Common External Tariff (CET) Levies during the period under review.
