FAAC has confirmed it shared N2.3 trillion in May 2026 federation revenue among Nigeria’s three tiers of government, a slight rise from April, driven by a jump in statutory income even as VAT collections slipped.
Nigeria’s three tiers of government just got a fatter purse. The Federation Account Allocation Committee, FAAC, has confirmed it shared N2.3 trillion in federation revenue for May 2026 — a step up from the N2.25 trillion handed out the previous month.
According to Daily Post Nigeria, citing the News Agency of Nigeria, NAN, Bawa Mokwa, Director of Press and Public Relations at the Office of the Auditor-General of the Federation, OAGF, announced the figures in a Wednesday statement following the June FAAC meeting in Abuja.
The N2.3 trillion distributable revenue broke down into N1.611 trillion in statutory revenue and N688.79 billion in VAT receipts. Total gross revenue for the month came in much higher, at N3.39 trillion, before N123.54 billion was knocked off for cost of collection and N971.61 billion went toward transfers and refunds.
There’s a tale of two trends here. Gross statutory revenue jumped by N273.62 billion to hit N2.65 trillion, riding on stronger collections from companies’ income tax, petroleum profit tax and oil royalties. VAT revenue, meanwhile, slid by N62.94 billion to N743.66 billion, dragging on overall growth. The figures continue a steady upward climb in federation earnings, with monthly allocations topping the N2 trillion mark since the start of the year.
When the dust settled, the federal government walked away with N818.68 billion, states pocketed N759.14 billion, and local government councils received N534.27 billion — keeping Nigeria’s revenue-sharing machine ticking along for another month.
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