FAAC Allocates N10.46 Trillion to Governments in Five Months

The Federal Account Allocation Committee (FAAC) reported that a total of N10.46 trillion was distributed among the federal, state, and local governments in Nigeria over five months, from January to May 2026. The allocations included N1.969 trillion in January, N1.894 trillion in February, N2.036 trillion in March, N2.257 trillion in April, and N2.30 trillion in May.

The federal government received N3.724 trillion, while the 36 states received N3.547 trillion, and 774 local government councils received N2.513 trillion. Oil-producing states received N673.177 billion as their share of derivation revenue.

The report indicated that revenue distribution rose steadily, despite a temporary dip in February. The gross revenue for May was reported at N2.652 trillion, with a notable increase in statutory revenue collection, although VAT collections declined by 7.8%.

The FAAC allocations are crucial for the fiscal operations of states and local governments in Nigeria.