Federal, state, and local governments shared a total of N2.3 trillion from the Federation Account in May 2026, even as value-added tax (VAT) revenue recorded a decline of N62.94 billion, according to a statement cited by NAN and issued through the Office of the Auditor-General of the Federation.
The figures were disclosed at the June 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
According to the report, total distributable revenue stood at N2.3 trillion, drawn from N1.611 trillion in statutory revenue and N688.785 billion from VAT. Overall gross revenue for the month reached N3.39 trillion, with N123.54 billion deducted as cost of collection and N971.61 billion recorded as transfers, interventions, and refunds.
Statutory revenue rose to N2.65 trillion, an increase of N273.62 billion compared with April’s figure. However, VAT revenue fell from N806.61 billion in April to N743.66 billion in May.
From the distributable pool, the federal government received N818.68 billion, states got N759.14 billion, while local government councils shared N534.27 billion. An additional N188.13 billion was distributed to oil-producing states as 13 per cent derivation revenue.
Breakdown shows the federal government received N749.80 billion from statutory revenue and N68.87 billion from VAT, while states and local governments received proportionate allocations across the two revenue streams.
Officials noted increases in collections from company income tax, capital gains tax, stamp duties, petroleum profit tax, hydrocarbon tax, oil and gas royalties, and import duties, while VAT, excise duties, and CET levies declined.
The FAAC figures highlight continued reliance on statutory revenue amid fluctuating consumption-linked tax performance.
The allocation figures were announced by Bawa Mokwa, Director of Press and Public Relations at the Office of the Auditor-General of the Federation, following the committee’s meeting in Abuja.
