FAAC Shares ₦2.3 Trillion to Federal, States, Local Governments for May 2026

FAAC Shares ₦2.3 Trillion to Federal, States, Local Governments for May 2026

The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.3 trillion among the three tiers of government as revenue allocation for May 2026.

The figure was confirmed at the June 2026 FAAC meeting and comprises ₦1.611 trillion from Statutory Revenue and ₦688.785 billion from Value Added Tax (VAT).

From the total distributable revenue, the Federal Government received ₦818.680 billion, while the 36 states got ₦759.141 billion. Local Government Councils received ₦534.277 billion, while oil-producing states got an additional ₦188.132 billion as 13 percent derivation.

According to the committee, gross statutory revenue for May stood at ₦2.652 trillion, representing an increase of ₦273.623 billion compared to April. The rise was attributed to stronger collections from Companies Income Tax, Capital Gains Tax, Stamp Duties, Petroleum Profit Tax, Hydrocarbon Tax, and oil royalties.

However, gross VAT revenue declined to ₦743.668 billion from ₦806.617 billion recorded in April. Despite the drop in VAT performance, FAAC noted that improved receipts from petroleum-related taxes and Company Income Tax helped sustain overall revenue growth for the month under review.

The committee assured that ongoing fiscal reforms and improved revenue collection strategies are expected to further strengthen allocations in the coming months.

FAAC Shares ₦2.3 Trillion to Federal, States, Local Governments for May 2026