The revenue shared was the highpoint of the FAAC meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele.

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The meeting, held in Abuja, was attended by the Accountant General of the Federation, Mr. Ahmed Idris, State Commissioners of Finance and other members of the Committee.

A total of ₦1.810 trillion in Statutory Revenue was shared among the Federal Government, States and Local Governments. The Federal Government received ₦849.366 billion, while the State Governments received ₦430.810 billion and the Local Governments received ₦332.136 billion.

And the oil-producing states, which include Delta, Edo, Lagos, Ogun, Oyo, Akwa Ibom, Bayelsa, Imo, Rivers, Cross River and Edo, also received ₦197.610 billion as 13 per cent derivation.

The oil-producing states include some of the biggest revenue-generating states in the country.

However, not all states received the same amount from the FAAC. The amount distributed also included ₦740.724 billion from Value Added Tax (VAT). The VAT distribution saw the Federal Government receive ₦74.072 billion, the State Governments receive ₦407.398 billion, while the Local Governments received ₦259.253 billion.

Mr. Taiwo Oyedele has been the Minister of Finance and Coordinating Minister of the Economy for some time now, and his tenure has seen some significant revenue allocations.

Key Facts

  • ₦2.551 trillion was shared among the Federal Government, 36 states, and 774 local governments in June 2026.
  • ₦1.810 trillion was shared as Statutory Revenue.
  • ₦740.724 billion was shared from Value Added Tax (VAT).
  • The Federal Government received ₦923.438 billion, the State Governments received ₦838.208 billion, and the Local Governments received ₦591.390 billion.
  • ₦197.610 billion was shared as 13 per cent derivation to the oil-producing states.

The FAAC put gross revenue available in June 2026 at ₦4.501 trillion, comprising ₦3.701 trillion in statutory revenue and ₦799.746 billion in gross VAT collections. Gross statutory revenue increased by ₦1.049 trillion over the figure recorded in May 2026.

The growth was driven largely by higher receipts from Companies Income Tax, Value Added Tax, Import Duty, Customs Excise Tariff Levies, Petroleum Royalties, Gas Flared Penalties, Rental Income and Miscellaneous Oil Revenue. However, collections from Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties and Fees recorded declines.

And interestingly, gross VAT revenue rose from ₦743.668 billion in May to ₦799.746 billion in June, representing an increase of ₦56.078 billion.

The FAAC is chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele.

In conclusion, the sharing of revenue among the Federal Government, 36 states, and 774 local governments has been completed, and the figures are in line with expectations.