Nigeria Shares N3tn Revenue as July Collections Rise

In July 2026, the Federal Government, the 36 states, and the 774 Local Government Councils shared a total of N3.007 trillion as federation revenue, reflecting an increase of N658.09 billion from June 2026. This disbursement was approved during the August 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Owerri, Imo State.

Bawa Mokwa, the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, stated that gross statutory revenue rose to N4.359 trillion in July, marking a 17.8 percent increase from N3.700 trillion in June. However, gross Value Added Tax revenue saw a slight decline to N793.968 billion from N799.746 billion in the previous month.

The increase in revenue was attributed to improved collections from various taxes, including Petroleum Profit Tax and Companies Income Tax, despite some declines in VAT and import duties. The FAAC meeting also addressed the broader implications of rising allocations for state economies and infrastructure development.