Federal Government, States, and Others Share N2.3 Trillion in Revenue for May 2026

The Federation Account Allocation Committee (FAAC) announced that a total of N2.3 trillion will be distributed to the Federal Government, state governments, and local government councils for May 2026.

Mr. Bawa Mokwa, Director of Press and Public Relations at the Office of the Auditor-General of the Federation (OAGF), made the statement in Abuja on Wednesday.

According to Mokwa, the distribution was decided at the June 2026 FAAC meeting held in Abuja.

The N2.3 trillion distributable revenue is composed of N1.611 trillion in distributable statutory revenue and N688.785 billion in distributable Value Added Tax (VAT) revenue.

Mokwa added that a FAAC communiqué indicated a total gross revenue of N3.395 trillion for May 2026.

He further noted that the total cost of collection amounted to N123.546 billion, while total transfers and refunds were N971.610 billion.

The communiqué also reported that gross statutory revenue reached N2.651 trillion in May 2026.

“This was higher than the N2.378 trillion received in the preceding month by N273.623 billion,” Mokwa said.

“Gross VAT revenue of N743.668 billion was available in May 2026, which is lower than the N806.617 billion available in April 2026 by N62.949 billion.”

From the N2.300 trillion distributable revenue, the Federal Government received N818.680 billion, state governments received N759.141 billion, and local government councils received N534.277 billion. An additional N188.132 billion (13 percent of mineral revenue) was shared with benefiting states as derivation revenue.

Regarding the N1.611 trillion distributable statutory revenue, the Federal Government received N749.801 billion, state governments received N380.309 billion, and local government councils received N293.202 billion. The same N188.132 billion was shared with benefiting states as derivation revenue.

From the N688.785 billion distributable VAT, the Federal Government received N68.879 billion, state governments received N378.832 billion, and local government councils received N241.075 billion.

Mokwa also highlighted that in May 2026, Companies Income Tax, CGT, SDT, Petroleum Profit Tax, Hydrocarbon Tax, Oil and Gas Royalty, and Import Duty all increased significantly, while VAT, Excise Duty, and CET Levies decreased considerably.

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