The Federation Account Allocation Committee (FAAC) has shared a total of N2.3 trillion among the Federal Government, state governments, and local government councils as federation revenue for May 2026.
This was disclosed in a statement issued in Abuja by the Director of Press and Public Relations at the Office of the Auditor-General of the Federation, Mr. Bawa Mokwa, following the June 2026 FAAC meeting.
According to the communiqué, the total distributable revenue of N2.3 trillion was drawn from statutory revenue of N1.611 trillion and Value Added Tax (VAT) revenue of N688.785 billion.
The total gross revenue available for the month stood at N3.395 trillion, with deductions of N123.546 billion for cost of collection and N971.610 billion for transfers and refunds.
FAAC noted that gross statutory revenue for May stood at N2.651 trillion, representing an increase of N273.623 billion compared to the previous month. However, VAT revenue declined to N743.668 billion, down from N806.617 billion recorded in April.
From the shared amount, the Federal Government received N818.680 billion, while states received N759.141 billion and local government councils got N534.277 billion. Additionally, N188.132 billion was allocated as 13% derivation revenue to oil-producing states.
Breakdown of the statutory revenue showed that the Federal Government received N749.801 billion, states got N380.309 billion, and local governments received N293.202 billion.
From the VAT pool, the Federal Government received N68.879 billion, states received N378.832 billion, and local governments got N241.075 billion.
The communiqué further noted mixed performance across revenue streams, with increases in companies income tax, petroleum-related taxes, and oil royalties, while VAT, excise duty, and import-related levies recorded declines.
FAAC stated that the figures reflect ongoing fluctuations in Nigeria’s revenue performance amid changing economic conditions.
