{"id":127716,"date":"2026-06-17T21:19:45","date_gmt":"2026-06-17T20:19:45","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=127716"},"modified":"2026-06-17T21:19:45","modified_gmt":"2026-06-17T20:19:45","slug":"fg-states-lgs-receive-n4-557tn-faac-allocation-in-30-days","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-states-lgs-receive-n4-557tn-faac-allocation-in-30-days\/","title":{"rendered":"FG, States, LGs Receive N4.557tn FAAC Allocation in 30 Days"},"content":{"rendered":"

By Godswill Michael<\/strong><\/p>\n

The Federal Government, the 36 states and 774 local government councils received a combined N4.56 trillion from the Federation Account Allocation Committee (FAAC) within 30 days, following the distribution of revenues generated in April and May 2026.<\/p>\n

Figures released by the Office of the Accountant General of the Federation showed that N2.300 trillion from May 2026 revenue was shared at the June FAAC meeting in Abuja, coming a month after the committee distributed N2.257 trillion generated in April.<\/p>\n

The latest allocation represents an increase of N43 billion over the amount shared in the preceding month.<\/p>\n

According to a communiqu\u00e9 issued after the June FAAC meeting on Wednesday, the N2.300 trillion distributable revenue comprised N1.611 trillion from statutory revenue and N688.785 billion from Value Added Tax (VAT).<\/p>\n

The communiqu\u00e9 stated that gross statutory revenue increased from N2.378 trillion in April to N2.651 trillion in May, representing a rise of N273.623 billion.<\/p>\n

“Gross statutory revenue rose significantly to N2.651 trillion in May from N2.378 trillion recorded in April, representing an increase of N273.623 billion.”<\/em><\/p>\n

However, VAT receipts declined during the period under review.<\/p>\n

“Gross VAT receipts fell to N743.668 billion in May from N806.617 billion in April, a decrease of N62.949 billion.”<\/em><\/p>\n

The communiqu\u00e9 further disclosed that total gross revenue available in May stood at N3.395 trillion. After deductions of N123.546 billion for cost of collection and N971.610 billion for transfers, interventions and refunds, the balance of N2.300 trillion was distributed among the three tiers of government.<\/p>\n

“Total gross revenue available in May stood at N3.395 trillion. After deductions of N123.546 billion for cost of collection and N971.610 billion for transfers and refunds, the balance of N2.300 trillion was shared among the three tiers of government.”<\/em><\/p>\n

A breakdown of the May allocation showed that the Federal Government received N818.680 billion, states received N759.141 billion, while local government councils got N534.277 billion. Oil-producing states received N188.132 billion as 13 per cent derivation revenue.<\/p>\n

From the N1.611 trillion statutory revenue component, the Federal Government received N749.801 billion, states received N380.309 billion, and local government councils got N293.202 billion. The derivation allocation to oil-producing states stood at N188.132 billion.<\/p>\n

Similarly, from the N688.785 billion VAT revenue, the Federal Government received N68.879 billion, states received N378.832 billion, while local government councils received N241.075 billion.<\/p>\n

In contrast, the N2.257 trillion shared from April revenue saw the Federal Government receive N787.351 billion, states receive N772.360 billion, and local government councils receive N540.152 billion. Oil-producing states received N157.254 billion as derivation revenue.<\/p>\n

The April distributable revenue consisted of N1.260 trillion statutory revenue, N747.088 billion VAT revenue and a N250 billion augmentation.<\/p>\n

From the augmentation fund, the Federal Government received N131.700 billion, states got N66.800 billion, while local government councils received N51.500 billion.<\/p>\n

FAAC also reported improved collections from major revenue sources during May. Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT) and Oil and Gas Royalty recorded significant increases.<\/p>\n

On the other hand, collections from Import Duty, VAT, Excise Duty and Common External Tariff (CET) Levies declined during the month.<\/p>\n

FAAC, the constitutional body responsible for distributing revenues accruing to the Federation Account, remains the primary source of funding for federal, state and local governments. The allocations support recurrent and capital expenditure, including infrastructure development, healthcare, education and the payment of workers’ salaries.<\/p>\n

The latest figures indicate that stronger statutory revenue collections continue to bolster monthly allocations to the three tiers of government, despite fluctuations in VAT receipts and other non-oil revenue sources.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Godswill Michael The Federal Government, the 36 states and 774 local government councils received a combined N4.56 trillion from the Federation Account Allocation Committee (FAAC) within 30 days, following…<\/p>\n","protected":false},"author":1,"featured_media":127717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-127716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nFG, States, LGs Receive N4.557tn FAAC Allocation in 30 Days - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/fg-states-lgs-receive-n4-557tn-faac-allocation-in-30-days\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG, States, LGs Receive N4.557tn FAAC Allocation in 30 Days - 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