FAAC Shares N2.3tr May 2026 Revenue to Three Tiers
By Patience Ikpeme
The Federation Account Allocation Committee (FAAC) has shared a total of N2.300 trillion in revenue from May 2026 to the Federal Government, State Governments, and Local Government Councils across the country.
The Director of Press and Public Relations, Mr. Bawa Mokwa, made this known following the June 2026 FAAC meeting held in Abuja.
According to the official communiqué released by the committee, the total money available for sharing came from two main sources. These include N1.611 trillion from statutory revenue and N688.785 billion from Value Added Tax (VAT).
The document showed that Nigeria generated a gross total revenue of N3.395 trillion in May 2026. Out of this money, N123.546 billion went into the cost of collection by the revenue agencies, while transfers and refunds took N971.610 billion.
A breakdown of the earnings showed that gross statutory revenue for the month stood at N2.651 trillion. This represents a clear increase of N273.623 billion when compared to the N2.378 trillion collected in April 2026.
However, the country witnessed a drop in its monthly Value Added Tax earnings. Gross revenue from VAT in May 2026 was N743.668 billion, which is N62.949 billion lower than the N806.617 billion recorded in April.
From the N2.300 trillion total shared money, the Federal Government took home N818.680 billion, while the 36 State Governments received N759.141 billion. The Local Government Councils got N534.277 billion, and an additional N188.132 billion was shared among oil-producing states as their 13 percent derivation revenue from mineral earnings.
Looking closer at the N1.611 trillion statutory revenue alone, the Federal Government received N749.801 billion. The State Governments got N380.309 billion, while the Local Government Councils took N293.202 billion, leaving N188.132 billion for the oil-producing states.
For the N688.785 billion distributable VAT revenue, the Federal Government received N68.879 billion. The State Governments got N378.832 billion, and the Local Government Councils received N241.075 billion.
The committee reported a mixed performance in the country’s revenue streams for the month. “Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty (SDT), Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil and Gas Royalty increased significantly,” the communiqué stated. Conversely, the report added that “Import Duty, Value Added Tax (VAT), Excise Duty, and CET Levies decreased considerably” during the same period.
