FAAC Shares ₦2.30 Trillion May 2026 Revenue to Federal, State and Local Governments
By Rita Onuoha
E-ISSN: 2354-4481
The Federation Account Allocation Committee (FAAC) has distributed a total of ₦2.30 trillion to the Federal Government, the 36 state governments and the 774 local government councils as revenue generated in May 2026.
The latest allocation represents an increase of ₦43 billion over the ₦2.26 trillion shared in April 2026, reflecting a 1.9 percent month-on-month growth and extending the steady rise in federation revenue collections recorded in recent months.
The distribution was announced on Wednesday, June 17, 2026, by the Office of the Accountant-General of the Federation following FAAC's monthly meeting in Abuja. The details were contained in a statement issued by the Director of Press and Public Relations, Bawa Mokwa.
According to the statement, the total gross revenue available for May 2026 stood at ₦3.395 trillion. Before the statutory distribution, deductions of ₦123.546 billion were made to cover the cost of revenue collection, while ₦971.610 billion was set aside for transfers, interventions and refunds.
The balance of ₦2.30 trillion was subsequently shared among the three tiers of government in accordance with the constitutional revenue allocation formula.
The May allocation continues an upward trend in monthly revenue distributions. FAAC shared ₦2.26 trillion in April, representing an increase of ₦217 billion from the ₦2.04 trillion allocated in March. Similarly, the March allocation exceeded February's distribution of ₦1.89 trillion by ₦150 billion.
The sustained growth in federation revenue is expected to provide additional fiscal resources for governments at all levels, supporting infrastructure development, public service delivery and the execution of budgetary commitments across the country.
Economic analysts have noted that the consistent increase in allocations could strengthen fiscal stability and promote economic development if the funds are managed prudently and invested in projects that deliver measurable benefits to citizens.
The monthly FAAC allocation remains a critical source of funding for Nigeria's federal, state and local governments, particularly for states that rely heavily on statutory transfers to finance recurrent expenditure and development programmes.
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