Allocation rises by N250bn as stronger tax, VAT and petroleum revenues boost June distributable income.
The Federal Government, states and local governments have shared N2.550 trillion in revenue generated in June 2026, representing a N250 billion increase from the previous m onth.
The latest allocation, approved by the Federation Account Allocation Committee (FAAC), represents a 10.9 per cent rise in distributable revenue.
According to the Office of the Accountant-General of the Federation, the N2.550 trillion comprised N1.809 trillion in distributable statutory revenue and N740.724 billion from Value Added Tax (VAT).
The FAAC communiqué stated that total gross revenue for June stood at N4.500 trillion. Of the amount, N160.744 billion was deducted as the cost of revenue collection, while N1.789 trillion went to transfers and refunds before the balance was distributed.
Statutory revenue recorded a significant increase, rising to N3.700 trillion in June from N2.651 trillion in May. Gross VAT collections also increased to N799.746 billion from N743.688 billion.
From the total distributable revenue, the Federal Government received N923.438 billion, while the 36 states shared N838.208 billion. The 774 local government councils received N591.390 billion, while oil-producing states received N197.610 billion as the 13 per cent derivation.
The increase in revenue was driven by higher collections from Companies Income Tax, Capital Gains Tax, Stamp Duty, petroleum royalties, gas flaring, rental income, VAT, import duties and Common External Tariff levies.
However, FAAC reported declines in Petroleum Profit Tax, Hydrocarbon Tax, mineral royalties and related fees during the period, while excise duty revenue recorded only a marginal increase.