<\/p>\n
FAAC: FG,States, LGs share N2.5tr from June revenue<\/p>\n
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The Federation Account Allocation Committee (FAAC) has shared N2.550trillion June 2026 revenue among the Federal Government, state\u2019s and local government councils in Nigeria.<\/p>\n
<\/p>\n
The revenue was shared during the July 2026 FAAC meeting held in Abuja on Wednesday.<\/p>\n
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The Director of Press in the Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement he issued shortly after the meeting.<\/p>\n
<\/p>\n
He said the N2.550 trillion total distributable revenue comprised distributable statutory revenue of N1.809 trillion and distributable Value Added Tax (VAT) revenue of N740.724 billion.<\/p>\n
<\/p>\n
A communiqu\u00e9 issued by the Federation Account Allocation Committee (FAAC) indicated that total gross revenue of N4.500 trillion was available in the month of June 2026.<\/p>\n
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<\/p>\n
According to the communiqu\u00e9, gross statutory revenue of N3.700 trillion was received for the month of June 2026.<\/p>\n
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This was higher than the sum of N2.651 trillion received in the preceeding month by N1.049 trillion.<\/p>\n
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Gross revenue of N799.746 billion was available from the Value Added Tax (VAT) in June 2026.<\/p>\n
<\/p>\n
This was higher than the N743.688 billion available in the month of May 2026 by N56.078 billion.<\/p>\n
<\/p>\n
The communiqu\u00e9 stated that from the N2.550 trillion total distributable revenue, the federal government received a total sum of N923.438 billion, and the state governments received a total sum of N838.208 billion.<\/p>\n
<\/p>\n
The local government council received N591.390 billion, while the sum of N197.610 billion (13% of mineral revenue) was shared with the benefiting state as derivation revenue.<\/p>\n
<\/p>\n
On the N1.809 trillion distributable statutory revenue, the communiqu\u00e9 stated that the federal government received N849.366 billion and the state governments received N430.810 billion.<\/p>\n
<\/p>\n
The local government councils received N332.136 billion, and the sum of N197.610 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.<\/p>\n
<\/p>\n
From the N740.724 billion distributable Value Added Tax (VAT) revenue, the federal government received N74.072 billion, the state governments received N407.398 billion, and the local government councils received N259.253 billion.<\/p>\n
<\/p>\n
In June 2026, Companies Income Tax (CIT), CGT, SDT, Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax (VTA), Import Duty, and CET Levies increased significantly, while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Mineral Royalties, and Fees decreased considerably. Excise duty increased only marginally.<\/p>\n
(www.primerisenews com)<\/p>\n","protected":false},"excerpt":{"rendered":"
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