FG, states, LGs get N2.55bn June revenue from FAAC
The Federation Account Allocation Committee (FAAC) on Tuesday shared N2.550 trillion as revenue generated in June to the Federal Government, states and local government areas of the country. This is N250 billion higher than the amount shared for the previous month, representing an increase of 10.9 per cent. The improvement in revenue was driven by […] The post FG, states, LGs get N2.55bn June…
The Federation Account Allocation Committee (FAAC) announced on Tuesday that the Federal Government, states and local government areas in Nigeria received N2.550 trillion in June revenue. This represents a 10.9% increase from the N2.450 trillion shared in May, driven by stronger collections from various sources. Mr. Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant-General of the Federation (OAGF), confirmed that the N2.550 trillion total distributable revenue was approved during the FAAC meeting in Abuja.
The distributable revenue comprised N1.809 trillion in statutory revenue and N740.724 billion in VAT revenue. The FAAC release indicated that N4.500 trillion was the total gross revenue for June 2026, with N160.744 billion deducted as the cost of revenue collection. The remainder was allocated among the three tiers of government, with the Federal Government receiving N923.438 billion, the states sharing N838.208 billion, and the local government councils receiving N591.390 billion. Oil-producing states also got N197.610 billion as derivation from mineral revenue.
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