FG, States, LGAs Share N2.300 Trillion FAAC Revenue for May 2026
The Federation Account Allocation Committee (FAAC) has distributed N2.300 trillion to the Federal Government, State Governments, and Local Government Councils as revenue allocation for May 2026.
The figure was confirmed at FAAC’s June 2026 meeting after reviewing May’s revenue receipts.
The total distributable revenue of N2.300 trillion comprised N1.611 trillion from Statutory Revenue and N688.785 billion from Value Added Tax (VAT)
From this, the Federal Government received N818.680 billion, State Governments got N759.141 billion, while Local Government Councils received N534.277 billion. Oil-producing states also received N188.132 billion as 13% derivation revenue.
Gross statutory revenue for May stood at N2.652 trillion, up by N273.623 billion from the N2.378 trillion recorded in April 2026.
FAAC reported higher collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil Royalties.
Collections from Import Duty, VAT, Excise Duty, and Common External Tariff (CET) Levies declined compared to April.
Gross VAT revenue for May was N743.668 billion, down from N806.617 billion in April 2026.
Efe Ovuakporie, Head of Information and Public Relations at the Ministry of Finance, said the Committee noted that despite the drop in VAT collections, the overall revenue position for the month was strengthened by improved receipts from petroleum-related taxes and Companies Income.
All distributions were carried out in line with existing laws and the approved revenue allocation formula.
