FG, states, others share N2.300trn May 2026 revenue

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The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.3 trillion to the Federal, States and the Local Government Councils for the month of May, 2026.

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

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In the statement, Mokwa said the revenue was shared at the June 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja.

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He explained that the N2.3 trillion total distributable revenue comprised distributable statutory revenue of N1.611 trillion , distributable Value Added Tax (VAT) revenue of N688.785 billion.

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Mokwa said a communiqué issued by the FAAC indicated that total gross revenue of N3.395 trillion was available in the month of May 2026.

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He further explained that a total deduction for cost of collection was N123.546 billion while total transfers and refunds N971.610 billion.

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According to the communique, gross statutory revenue of N2.651 trillion was received for the month of May 2026.

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“This was higher than the sum of N2.378 trillion received in the preceeding month by N273.623 billion.

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“Gross revenue of N743.668 billion was available from the Value Added Tax (VAT) in May 2026.

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“This was lower than the N806.617 billion available in the month of April 2026 by N62.949 billion.

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The communiqué stated that from the N2.300 trillion total distributable revenue, the Federal Government received total sum of N818.680 billion and the State Governments received total sum of N759.141 billion.

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“The Local government Council received N534.277 billion, while the sum of N188.132 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue.

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“On the N1.611 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N749.801 billion and the state governments received N380.309 billion.

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“The Local Government Councils received N293.202 billion and the sum of N188.132 billion (13 per cent of mineral revenue) was shared to the benefiting states as derivation revenue,” he said.

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He also disclosed that from the N688.785 billion distributable VAT, the Federal Government received N68.879 billion.

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According to him, the state governments received N378.832 billion and the Local Government Councils received N241.075 billion.

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Mokwa further noted that in May 2026, Companies Income Tax (CIT), CGT, SDT, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Oil and Gas Royalty increased significantly with Import Duty.

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According to him, VAT, Excise Duty and CET Levies decreased considerably

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