FAAC
The Federation Account Allocation Committee (FAAC) disbursed a total of N6.58 trillion to the federal government, states and local government councils in May and June 2026, covering revenue generated in April and May, according to disbursement reports released by the National Bureau of Statistics (NBS).
The two-month total was made up of N3.18 trillion shared in May and N3.40 trillion shared in June, an increase of N210.68 billion, or 6.6 per cent, between the two months.
A breakdown of the combined disbursement showed that the federal government received N1.61 trillion over the period, made up of N787.35 billion in May and N818.68 billion in June. States received N1.53 trillion in total, comprising N772.36 billion in May and N759.14 billion in June, while local government councils received N1.07 trillion, made up of N540.15 billion in May and N534.28 billion in June.
Of the total N6.58 trillion disbursed, N4.78 trillion was drawn from the Statutory Account and N1.55 trillion from Value Added Tax (VAT). A further N250 billion was augmented from non-oil revenue in May; no augmentation was recorded in the June disbursement.
Oil-producing states received a combined N345.38 billion from the 13 per cent derivation fund over the two months, made up of N157.25 billion in May and N188.13 billion in June.
The revenue-generating agencies, comprising the Nigeria Revenue Service (NRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), received a combined N237.3 billion as cost of revenue collection across the two disbursements. The NRS received N160.97 billion in total, while the NUPRC received N76.33 billion.
Other deductions from the federation account over the two months included N50 billion transferred to the Nigeria Sovereign Investment Authority (NSIA) each month, N18.97 billion transferred to the Meter Distribution and General Infrastructure Fund (MDGIF), N36.16 billion in 13 per cent refunds on subsidy and priority projects, N44.65 billion to the North East Development Commission, N518.98 billion deducted for the Infrastructure Development Fund to States, and N250 billion for a National Security Emergency Fund and Military Intervention Fund recorded across the two months.
A further N100 billion was recorded as tax refund to the NRS, and N200 billion was deducted to the Non-Oil Excess Revenue Account in May.
The NBS said the FAAC data is provided statutorily by the Office of the Accountant General of the Federation (OAGF) and reported by the Bureau on a monthly basis.
FAAC disbursed N4.78 trillion from the Statutory Account and N1.55 trillion from Value Added Tax (VAT) to the Federal Government, states and local government councils over May and June 2026, according to the latest NBS disbursement reports.
A month-on-month comparison showed a marked divergence in the trajectory of the two revenue streams. Statutory disbursement rose from N2.13 trillion in May to N2.65 trillion in June, an increase of N520 billion, or 24.4 per cent. VAT disbursement moved in the opposite direction, falling from N806.62 billion in May to N743.67 billion in June, a decline of N62.95 billion, or 7.8 per cent.
The rise in statutory revenue lifted the federal government’s allocation from the Consolidated Revenue Fund (CRF) Account to N651.13 billion in June, from N623.53 billion in May, and pushed up its net statutory receipts across derivation and ecology, stabilisation, and natural resources development funds. The FGN’s net statutory allocation to the CRF Account alone rose from N427.57 billion in May to N582.26 billion in June, even as its VAT share fell from N74.71 billion to N68.88 billion over the same period.
At the state and local government level, the shift produced similar movements. States’ statutory allocation rose from N294.66 billion in May to N380.31 billion in June, while their VAT allocation fell only marginally, from N410.90 billion to N378.83 billion. Local governments recorded a sharper swing, with statutory allocation climbing from N227.17 billion to N293.20 billion, while VAT allocation fell from N261.48 billion to N241.07 billion.
The May disbursement additionally included a N250 billion augmentation drawn from non-oil revenue, spread across the FGN (N131.70 billion), states (N66.80 billion) and local governments (N51.50 billion). No equivalent augmentation was recorded in the June disbursement, the NBS said, which meant the entirety of the increase in the June total was driven by the rise in statutory revenue.
Combined, the Statutory Account and VAT accounted for N6.33 trillion of the N6.58 trillion total disbursed over the two months, with the balance made up of the one-off May augmentation.
