FG, STATES, LGCs SHARE N2.300 TRILLION May 2026 REVENUE
A total of N2.300 trillion, representing the May 2026 Federation Account Revenue, was shared among the Federal Government, states, and local government councils.
In a press statement issued by Bawa Mokwa, the Director of Press and Public Relations, he said the revenue was shared at the June 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.
The total distributable revenue of N2.300 trillion included N1.611 trillion in distributable statutory revenue and N688.785 billion in distributable Value Added Tax (VAT) revenue.
A communiqué from the Federation Account Allocation Committee (FAAC) revealed that the total gross revenue available in May 2026 was N3.395 trillion. The total deduction for collection costs was N123.546 billion, while transfers and refunds amounted to N971.610 billion.
According to the communiqué, the gross statutory revenue received in May 2026 was N2.651 trillion, which is N273.623 billion higher than the N2.378 trillion received in the previous month.
The value added tax (VAT) revenue for May 2026 was N743.668 billion, lower than the N806.617 billion recorded in April 2026 by N62.949 billion.
The communiqué stated that, from the total distributable revenue of N2.300 trillion, the Federal Government received N818.680 billion, while the state governments received N759.141 billion.
The local government councils received N534.277 billion, and N188.132 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
Regarding the N1.611 trillion in distributable statutory revenue, the communiqué noted that the Federal Government received N749.801 billion, and the state governments received N380.309 billion.
The local government councils received N293.202 billion, with N188.132 billion (13% of mineral revenue) shared among the benefiting states as derivation revenue.
From the N688.785 billion in distributable VAT revenue, the Federal Government received N68.879 billion, the state governments N378.832 billion, and the local government councils N241.075 billion.
In May 2026, there was a significant increase in Companies Income Tax (CIT), CGT, SDT, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil and Gas Royalty, while import duty, value added tax (VAT), excise duty, and CET levies decreased considerably.
