The Federation Account Allocation Committee (FAAC) has distributed a total of N2.3 trillion to the Federal Government, state governments, and local government councils as revenue allocation for May 2026.

The disclosure was made by Bawa Mokwa, Director of Press and Public Relations in the Office of the Auditor-General of the Federation (OAGF), in a statement issued on Wednesday in Abuja.

According to Mokwa, the revenue was shared during the June 2026 meeting of the Federation Account Allocation Committee held in Abuja.

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

Mokwa said total gross revenue available in May 2026 stood at N3.395 trillion. He added that deductions for the cost of collection amounted to N123.546 billion, while transfers and refunds totalled N971.610 billion.

According to him, gross statutory revenue for May 2026 amounted to N2.651 trillion.

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

“Gross revenue of N743.668 billion was available from Value Added Tax in May 2026. This was lower than the N806.617 billion recorded in April 2026 by N62.949 billion,” he said.

Mokwa stated that from the N2.3 trillion distributable revenue, the Federal Government received N818.680 billion, while the state governments received N759.141 billion.

“The local government councils received N534.277 billion, while the sum of N188.132 billion, representing 13 per cent of mineral revenue, was shared to the benefiting states as derivation revenue.

“From the N1.611 trillion distributable statutory revenue, the communiqué stated that the Federal Government received N749.801 billion, the state governments received N380.309 billion, while the local government councils received N293.202 billion. The sum of N188.132 billion, representing 13 per cent of mineral revenue, was shared to the benefiting states as derivation revenue,” he said.

He further disclosed that from the N688.785 billion distributable VAT revenue, the Federal Government received N68.879 billion, while state governments received N378.832 billion and local government councils got N241.075 billion.

Mokwa noted that collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties Tax (SDT), Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), oil and gas royalties, as well as import duties, recorded significant increases in May 2026.

He added, however, that revenues from VAT, excise duties, and Common External Tariff (CET) levies declined considerably during the period.