FAAC: FG, States, LGCs share massive N2.550tn as June revenue
The allocation included N1.809 trillion in statutory revenue and N740.724 billion in VAT, with local councils and states also receiving their shares.
- Nigeria's three tiers of government shared N2.550 trillion in June 2026 revenue, with the Federation Account Allocation Committee disclosing the figures in Abuja on Wednesday.
- Total gross revenue available reached N4.500 trillion for June 2026, comprising N1.809 trillion in statutory revenue and N740.724 billion in Value Added Tax.
- Revenue collection exceeded the N2.651 trillion recorded in May 2026 by N1.049 trillion, a significant increase confirmed by Accountant General Bawa Mokwa in his statement.
- Companies Income Tax, Value Added Tax, and Import Duty increased significantly; Petroleum Profit Tax, Hydrocarbon Tax, and Mineral Royalties declined considerably, while Excise duty grew marginally.
- Total deductions for collection costs amounted to N160.744 billion, while total transfers and refunds reached N1.789 trillion through Federation Account operations.
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FAAC: FG States, LGs share N2.6 trn
The Federation Account Allocation Committee (FAAC) has shared a total of ₦2.551 trillion among the Federal Government, the 36 States and the 774 Local Government Councils as Federation Account revenue for June 2026. The post FAAC: FG States, LGs share N2.6 trn appeared first on Vanguard News.
FG, states, LGs get higher revenue as June allocation hits N2.55tn
Nigeria’s FAAC allocation reached N2.55tn in June 2026, providing higher revenue for the Federal Government, states, and local councils. Learn more about t Read More: https://punchng.com/fg-states-lgs-get-higher-revenue-as-june-allocation-hits-n2-55tn/
₦2.55trn FAAC Windfall: Nigeria’s Revenue Surge Raises Stakes for Businesses, Economy and Growth
Nigeria’s three tiers of government shared ₦2.550 trillion in June federation revenue after statutory receipts and VAT collections rose sharply. The windfall offers fiscal relief, but its real value will depend on whether governments convert it into infrastructure, productive investment and better public services.
FAAC approves ₦2.549tn allocation to FG, States and LGs for June 2026 - Lagos Television
The Federation Account Allocation Committee (FAAC) has approved the distribution of ₦2.549 trillion to the Federal Government, state governments and local government councils for June 2026. FAAC Director of Press and Public Relations, Bawa Mokwa, disclosed that the allocation was approved during the committee’s July 2026 meeting held in Abuja. According to the communiqué issued after the meeting,...
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