The Federal Government has withheld N500 billion from the Federal Account Allocation Committee (FAAC) revenue to finance urgent national security operations amid rising bandit attacks in Nigeria. This deduction significantly affects the total revenue available for distribution am
The Federal Government, states, and local councils shared a total of N2.3 trillion in revenue for May 2026, as disclosed by Bawa Mokwa from the Office of the Auditor General for the Federation. The distribution includes statutory revenue and value-added tax.
In May 2026, the Federal Account Allocation Committee distributed N2.3 trillion among federal, state, and local governments, marking a N43 billion increase from the previous month. The distribution included statutory revenue and VAT, with notable increases in company income tax a
The Federation Account Allocation Committee reported that the allocation for May 2026 rose to N2.3 trillion, marking a 1.9% increase from the previous month. This growth is attributed to stronger revenues, particularly in statutory revenue despite a decline in VAT collections.
