FAAC: FG, states, LGs share N16tn in seven months as revenue
The Federal Government, 36 state governments and 774 local government councils shared a total of N15.997 trillion, or approximately N16 trillion, in revenue from the Federation Account between January and July 2026. The figure rose to N15.997 trillion following the latest disbursement of N3.007 trillion for July, the highest monthly allocation recorded so far this […] FAAC: FG, states, LGs share…
Between January and July 2026, the Federal Government, 36 state governments and 774 local government councils collectively received N15.997 trillion in revenue from the Federation Account, according to the latest data released by the Federation Account Allocation Committee (FAAC). This total represents a significant increase from the N12.99 trillion disbursed during the same period in the previous year.
The July allocation of N3.007 trillion, the highest monthly disbursement so far this year, contributed to the upward trend. FAAC's approval of the July allocation came during a meeting held in Owerri, Imo State. The July allocation marked a 17.9% increase compared to the N2.55 trillion shared in June. Gross statutory revenue for July also saw a substantial rise, reaching N4.359 trillion from N3.700 trillion in June, a 17.8% increase.
However, VAT revenue declined slightly, falling to N793.968 billion in July from N799.746 billion in June, a 0.7% decrease. The FAAC disbursements averaged N2.285 trillion monthly throughout the seven-month period, with July standing out as the highest allocation.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
