The Federation Account Allocation Committee (FAAC) has distributed N2.3 trillion among the Federal Government, state governments and local government councils from May 2026 revenue.
The allocation represents an increase of N43 billion compared to the previous month and reflects continued growth in federation revenues. According to FAAC, stronger collections from Companies Income Tax, Petroleum Profit Tax, Hydrocarbon Tax and oil royalties helped offset declines in Value Added Tax and import duty revenues.
Of the total amount shared, the Federal Government received over N818 billion, states received about N759 billion, while local governments received more than N534 billion. The latest figures highlight the importance of oil and tax revenues in sustaining public finances across the country.
