The Federation Account Allocation Committee has shared a total of ₦2.300tn May 2026 Federation Account Revenue among the Federal Government, states and local government councils.
The allocation, shared at the June 2026 FAAC meeting held in Abuja, represents an increase of about ₦43bn from the ₦2.26tn distributed in the previous month.
This was disclosed in a statement issued on Wednesday by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation.
According to the FAAC communiqué, the total gross revenue available for May 2026 stood at ₦3.395tn.
Out of this amount, ₦123.546bn was deducted as cost of collection, while ₦971.610bn went into transfers, savings and refunds.
The total distributable revenue of ₦2.300tn comprised ₦1.611tn in distributable statutory revenue and ₦688.785bn in distributable Value Added Tax revenue.
From the total distributable amount, the Federal Government received ₦818.680bn, state governments received ₦759.141bn, while the 774 local government councils shared ₦534.277bn.
In addition, oil-producing states received ₦188.132bn as 13 per cent derivation revenue from mineral proceeds.
The communiqué showed that gross statutory revenue rose significantly to ₦2.651tn in May, compared to ₦2.378tn recorded in April, reflecting an increase of ₦273.623bn.
However, gross VAT revenue declined to ₦743.668bn in May from ₦806.617bn in April, representing a decrease of ₦62.949bn.
From the ₦1.611tn distributable statutory revenue, the Federal Government received ₦749.801bn, states received ₦380.309bn, while local government councils received ₦293.202bn.
The sum of ₦188.132bn was also shared with benefiting states as 13 per cent derivation revenue.
From the ₦688.785bn distributable VAT revenue, the Federal Government received ₦68.879bn, state governments received ₦378.832bn, while local government councils received ₦241.075bn.
FAAC said the increase in May revenue was driven largely by stronger performance in Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax and oil and gas royalties.
However, it noted that Import Duty, Value Added Tax, Excise Duty and CET Levies recorded considerable decreases during the period.
The latest distribution continues the upward movement in federation allocations, following earlier payments of ₦1.89tn for February, ₦2.04tn for March and ₦2.26tn for April.
The post “Statutory Revenue Rises, VAT Drops” — FAAC Shares ₦2.3tn May Allocation To FG, States, LGs, Oil-Producing States appeared first on TheNigeriaLawyer.
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