FAAC: FG, states, LGs share N3 trn

The three tiers of government have shared N3.007 trillion in revenue for July 2026.

The revenue was shared at the Federation Account Allocation Committee (FAAC) meeting held yesterday on the sidelines of the ongoing National Council on the Federation and Economic Development (NACOFED) in Owerri, Imo State.

This month’s shared revenue was higher than the ₦2.551 trillion shared in the month of July 2026, where the total distributable sum comprised ₦1.810 trillion in statutory revenue and ₦740.724 billion from Value Added Tax (VAT).

According to the communique issued by the FAAC, this month’s figures point to a strengthening of the underlying revenue base, with Gross statutory revenue rising to ₦4.359 trillion.

That represents an increase of N658.087 billion, or 17.8 per cent, compared to the N3.700 trillion recorded in the previous month.

The committee attributed the rise in revenue to improved collection performance across oil and non-oil statutory sources.

Gross VAT revenue stood at ₦793.968 billion, a marginal decline of ₦5.778 billion (0.7%) from ₦799.746 billion in the previous month,  suggesting consumption-tax receipts remain resilient month-on-month.