FAAC Allocation Hits N2.3 Trillion in May 2026

The Federation Account Allocation Committee announced that the total allocation for May 2026 reached N2.3 trillion, reflecting a N43 billion increase from the N2.26 trillion distributed in April 2026. This marks a 1.9% month-on-month increase, continuing an upward trend in federal revenue, which totaled N2.257 trillion for the month.

The allocation includes N1.611 trillion in statutory revenue and N688.785 billion in value-added tax (VAT). The gross revenue available for May was reported at N3.395 trillion, with N971.610 billion set aside for cost collection.

Despite a decline in VAT collections, which fell to N743.668 billion from N806.617 billion in April, stronger inflows from oil-related tax revenues helped lift the total distributable revenue. The distribution showed that the federal government received N818.680 billion, state governments received N759.141 billion, and local government councils received N534.277 billion.