News
FAAC disburses ₦2.551trn June 2026 revenue to FG, states LGs
The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.551 trillion as Federation Account revenue for June 2026 to the Federal Government, the 36 state governments and the 774 local government councils across Nigeria.
The revenue allocation was approved during the FAAC meeting held in Abuja on Wednesday. The meeting was chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele.
According to a statement issued by the Head of the Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie, the meeting was attended by the Accountant-General of the Federation, commissioners of finance from the 36 states, and other members of the committee.
The amount distributed comprised ₦1.810 trillion in Statutory Revenue and ₦740.724 billion from Value Added Tax (VAT).
From the Statutory Revenue, the Federal Government received ₦849.366 billion, the State Governments ₦430.810 billion, while the Local Government Councils received ₦332.136 billion. The oil producing States also received ₦197.610 billion as 13 per cent derivation.
The VAT distribution saw the Federal Government receive ₦74.072 billion, the State Governments ₦407.398 billion, while the Local Government Councils received ₦259.253 billion.
In all, the Federal Government received ₦923.438 billion, the State Governments ₦838.208 billion, the Local Government Councils ₦591.390 billion, while ₦197.610 billion was shared as 13 per cent derivation to the oil producing States.
The FAAC put gross revenue available in June 2026 at ₦4.501 trillion, comprising ₦3.701 trillion in statutory revenue and ₦799.746 billion in gross VAT collections.
Gross statutory revenue increased by ₦1.049 trillion over the figure recorded in May 2026.
The growth was driven largely by higher receipts from Companies Income Tax, Value Added Tax, Import Duty, Customs Excise Tariff Levies, Petroleum Royalties, Gas Flared Penalties, Rental Income and Miscellaneous Oil Revenue.
However, collections from Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties and Fees recorded declines.
Follow Us on Google Discover
2027: Step down if you are not working for Tinubu – Deji Adeyanju dares Obi, Kwankwaso
2027: ‘I wont join my Uncle to support Tinubu’ – Davido says
Enugu NYSC death: NAFDAC debunks claims linking corps members death to fake drugs
33 Governors cannot be wrong in supporting Tinubu – Bayo Onanuga
Security forces arrest five suspects over abduction of 20 NYSC members in Imo
Rugby star Hyron Andrews dies at 31 after accidental fall in South Africa
LAUTECH Resident Doctors halt 50-day strike as Makinde intervenes
House Officers, Nurses, Radiographers, Others wanted as DELSUTH opens recruitment – Apply Now
FG raises health fund allocation to N40.76bn, extends insurance to prison inmates
Erisco Foods announces 13 job openings across Nigeria – Apply Now
Tinubu reappoints Bala Bila as INEC commissioner, nominates six others
2027: ‘Don’t trust your destiny to ‘kalokalo’ people’ – Wike warns Rivers voters against Atiku, Amaechi, Obi
BREAKING: Cross River PDP Chairman Venatius Ikem resigns, cites leadership crisis
Real Madrid call for immediate resignation of La Liga President over controversial remarks
BREAKING: Oyebanji makes history as first Ekiti Governor to win second consecutive term
Erisco Foods announces 13 job openings across Nigeria – Apply Now
2027: Atiku, Obi, Makinde, Adebayo, Duke hold talks with six opposition parties
Ex-Senator Bello Mandiya’s body found in Abuja home three days after he slipped, hit his head in the bathroom
‘You Betrayed Osun People’ — Adeleke, Davido face backlash over support for Tinubu
JUST IN: Finnish Appeal Court reduces Simon Ekpa’s jail term to four years, upholds terrorism conviction
Tinubu reappoints Bala Bila as INEC commissioner, nominates six others
Zamfara govt set to empower 36,176 residents with Dangote shares
Umahi reopens first Niger bridge after emergency repairs, displays Tinubu’s photos
Over 10 soldiers, four civilians feared dead as Boko Haram terrorists attack Borno military base
Lagos govt announces 3-day traffic diversion on Independence bridge for emergency repairs
‘I love Islam, I’ve sent people to Mecca to pray for me, Nigeria for 25 years’ – Akpabio
Tension escalates as thugs attack NDC secretariat in Edo, destroy properties
‘Local champion’ – Donald Duke takes fresh swipe at Gov Diri over Lagos-Calabar coastal highway
Tension mounts as NLC rejects FG’s response to 14-day ultimatum
