FAAC Allocates N2.3 Trillion to Governments in May 2026

In May 2026, the Federal Account Allocation Committee (FAAC) met in Abuja and announced the distribution of N2.3 trillion among federal, state, and local governments. This amount represents an increase of N43 billion from the N2.26 trillion allocated in April 2026, indicating a 1.9% month-on-month increase.

The total gross revenue available for May stood at N3.395 trillion, with N123.546 billion deducted for cost of collection. The statutory revenue collected during the month rose to N2.651 trillion, up from N2.378 trillion in April, reflecting an increase of N273.623 billion.

However, VAT collections declined, with gross VAT revenue falling to N743.668 billion in May from N806.617 billion in April. The distribution comprised N1.611 trillion in statutory revenue, with federal government receiving N818.680 billion, state governments N759.141 billion, and local government councils N534.277 billion.

Oil-producing states received N188.132 billion as their share of the derivation revenue.