BY COBHAM NSA – The Federation Account Allocation Committee (FAAC) has distributed a total sum of N2.550 trillion as June 2026 revenue to the Federal Government, States and the Local Government Councils.
Rising from its July meeting held in Abuja, FAAC disclosed that the N2.550 trillion total distributable revenue comprised statutory revenue of N1.809 trillion and Value Added Tax (VAT) revenue of N740.724 billion.
According to the communiqué, total gross revenue of N4.500 trillion was available in the month of June 2026, total deduction for cost of collection stood at N160.744 billion while total transfers and refunds came up to N1.789 trillion.
The communiqué further indicated that gross statutory revenue of N3.700 trillion was received for the month of June 2026, representing a higher figure than the sum of N2.651 trillion gotten in the preceding month by N1.049 trillion.
For VAT, gross revenue of N799.746 billion was available in June 2026, a figure higher than the N743.688 billion available in the month of May 2026 by N56.078 billion.
Additionally, the communiqué stated that from the N2.550 trillion total distributable revenue, the Federal Government got N923.438 billion, the State Governments received N838.208 billion, the Local government Council kept N591.390 billion, while the sum of N197.610 billion, being 13 percent of mineral revenue, was shared to the benefiting State as derivation revenue.
On the N1.809 trillion distributable statutory revenue, the communiqué disclosed that the Federal Government received N849.366 billion, the State Governments got N430.810 billion, the Local Government Councils pocketed N332.136 billion with N197.610 billion being 13 percent of mineral revenue going to the benefiting States as derivation revenue.
From the N740.724 billion VAT revenue, the Federal Government kept N74.072 billion, the State Governments received N407.398 billion and the Local Government Councils got N259.253 billion.
Meanwhile, a statement by Bawa Mokwa, Director of Press and Public Relations, Office of the Accountant General of the Federation (OAGF) explained that Companies Income Tax (CIT), CGT, SDT, Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax (VAT), Import Duty and CET Levies all recorded significant increase in the month under review.
However, the Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties and Fees witnessed considerable decrease while Excise Duty only witnessed marginal increase during the period.
