JUST IN: States, FG, LGs share N3tn as July revenue rose by N658bn
Nigeria’s Federal, State, and Local Governments shared N3.007tn in July 2026 FAAC revenue, driven by increased petroleum and non-oil taxes. Learn how the N Read More: https://punchng.com/just-in-states-fg-lgs-share-n3tn-as-july-revenue-rose-by-n658bn/
Federal Government, states, and local governments together received N3.007tn as federation revenue for July 2026, with overall collections increasing by N658.09bn. This growth was primarily fueled by enhanced petroleum and non-oil tax revenues. The Federation Account Allocation Committee approved the disbursement at a meeting in Owerri, Imo State on Tuesday.
While VAT revenue slightly decreased, other tax sources like Petroleum Profit Tax, Hydrocarbon Tax, and Companies Income Tax saw growth. The FAAC emphasized the importance of converting this revenue growth into long-term economic strength through reforms and better fiscal management across Nigeria's federating units.
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