FAAC Disburses Record N3.007 Trillion for July 2026

The Federation Account Allocation Committee (FAAC) has approved the disbursement of N3.007 trillion for July 2026 to the Federal Government, state governments, and local government councils. This decision was made during a FAAC meeting held in Owerri, Imo State, as stated by Bawa Mokwa, the spokesperson for the Office of the Accountant-General of the Federation.

The gross statutory revenue for the period increased to N4.359 trillion, reflecting a rise of N658.087 billion, or 17.8 percent, from June 2026's N3.700 trillion. The July disbursement also represents an increase of N457 billion compared to the N2.55 trillion shared in June.

Notably, the N3.007 trillion allocated in July is the highest monthly FAAC allocation recorded in 2026. However, gross Value Added Tax (VAT) revenue saw a slight decline to N793.968 billion, down by N5.778 billion, or 0.7 percent, from June's N799.746 billion.

From January to June 2026, FAAC distributed a total of N12.99 trillion, and with July's allocation, the total for the year has reached N15.997 trillion.