The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.30 trillion to the three tiers of government from the revenues generated in May 2026, marking a ₦43 billion increase from the ₦2.26 trillion shared in the previous month.

The latest allocation, which represents a 1.9 percent month-on-month growth, continues a steady upward trajectory in federation revenues, which previously saw ₦2.04 trillion distributed for March and ₦1.89 trillion for February.

The figures were disclosed in a statement released on Wednesday, June 17, 2026, by Bawa Mokwa, the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, following the FAAC meeting in Abuja.

According to the official communiqué, the total gross revenue available for the month of May stood at ₦3.395 trillion, out of which ₦123.546 billion was deducted as the cost of collection by revenue-generating agencies, while ₦971.610 billion was allocated for essential transfers, savings, and refunds.

The overall revenue boost was driven primarily by a surge in gross statutory revenue, which jumped to ₦2.651 trillion in May from ₦2.378 trillion in April, offsetting a noticeable decline in Value Added Tax (VAT) receipts.

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The committee reported that while gross VAT collections dropped by ₦62.949 billion to settle at ₦743.668 billion, stronger performance from oil and corporate sectors cushioned the impact. Specifically, significant increases were recorded in Companies Income Tax (CIT), Capital Gains Tax (CGT), Petroleum Profit Tax (PPT), Hydrocarbon Tax, and oil and gas royalties, even as import duties, excise duties, and VAT experienced considerable decreases.

A precise breakdown of the ₦2.300 trillion total distributable pool—comprising ₦1.611 trillion in statutory revenue and ₦688.785 billion in VAT revenue—shows that the Federal Government received the largest share of ₦818.680 billion.

State governments were allocated ₦759.141 billion, while the 774 Local Government Councils received ₦534.277 billion. Additionally, the oil-producing states shared ₦188.132 billion under the 13 percent derivation formula, drawn entirely from the statutory revenue component.

From the specific ₦1.611 trillion statutory allocation, the Federal Government took ₦749.801 billion, states received ₦380.309 billion, and local councils got ₦293.202 billion, alongside the derivation funds.

Meanwhile, the ₦688.785 billion net VAT revenue was shared with ₦68.879 billion going to the Federal Government, ₦378.832 billion to the states, and ₦241.075 billion to local governments, underscoring the vital reliance of sub-national governments on consumption tax streams despite the mixed performance of the nation’s major revenue windows.

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