FG, States, Local Governments Share ₦2.551 Trillion Revenue

The Federal Government, along with the 36 states and 774 local government councils, shared a total of ₦2.551 trillion in revenue for June 2026, as reported by the Federal Account Allocation Committee (FAAC). The meeting, chaired by Mr.

Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, took place in Abuja. The total distribution comprised ₦1.810 trillion in statutory revenue and ₦740.724 billion from Value Added Tax (VAT).

The Federal Government received ₦849.366 billion, states received ₦430.810 billion, and local government councils received ₦332.136 billion. Additionally, oil-producing states received ₦197.610 billion as a 13% derivation.

The gross revenue available for June 2026 was ₦4.501 trillion, with a significant increase in statutory revenue driven by higher receipts from company income tax, VAT, and other sources. However, there was a decline in petroleum profit tax and hydrocarbon tax collections.