FAAC Disburses N2.300 Trn May 2026 Revenue to Federal, State And Local Governments
By Core Reporters
Nigeria’s Federation Account Allocation Committee (FAAC) has shared a total of N2.300 trillion among the Federal Government, State Governments and Local Government Councils as revenue allocation for May 2026.
This was contained in a statement signed on Wednesday, May 17, 2026 by the Head of Information and Public Relations Unit of the Ministry of Finance, Efe Ovuakporie
The allocation was confirmed at the June 2026 meeting of FAAC following the consideration of revenue receipts for the month of May.
The total distributable revenue of N2.300 trillion comprised N1.611 trillion from Statutory Revenue and N688.785 billion from Value Added Tax (VAT).
From the distributable revenue, the Federal Government received N818.680 billion, while State Governments received N759.141 billion. Local Government Councils received N534.277 billion, while the oil-producing states received N188.132 billion as 13 per cent derivation revenue.
The gross statutory revenue available for the month stood at N2.652 trillion, representing an increase of N273.623 billion over the N2.378 trillion recorded in April 2026.
FAAC reported significant increases in collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT) and Oil Royalties during the month under review.
However, collections from Import Duty, Value Added Tax (VAT), Excise Duty and Common External Tariff (CET) Levies recorded declines compared to the preceding month.
Gross VAT revenue for May 2026 stood at N743.668 billion, lower than the N806.617 billion collected in April 2026.
The Committee noted that despite the decline in VAT collections, the overall revenue position for the month was strengthened by improved receipts from petroleum-related taxes and Companies Income Tax.
The revenue distribution was carried out in accordance with existing laws and the approved revenue allocation formula.
