FAAC disburses record highest N3.007tn to FG, states, LGs for July
- The Federation Account Allocation Committee disbursed a record N3.007 trillion to the Federal Government, 36 states, and 774 Local Government Councils for July 2026, surpassing the previous month's allocation of N2.551 trillion.
- Gross statutory revenue rose by 17.8% to N4.359 trillion in July 2026, mainly due to improved collections from oil and non-oil sources, while gross VAT revenue slightly declined by 0.7%.
- The Nigeria Tax Act 2025, effective January 1, 2026, changed VAT distribution by increasing states' share from 50% to 55% and decreasing the Federal Government's from 15% to 10%, better linking revenue to the location of consumption.
- The FAAC emphasized the need for ongoing reforms, improved collection discipline, transparency, and investment in human capital to convert growing revenue into sustainable fiscal strength and improved living standards across all government tiers.
15 Articles
15 Articles
FAAC: FG, states, LGs share N3 trn
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. The post FAAC: FG, states, LGs share N3 trn appeared first on Vanguard News.
JUST IN: States, FG, LGs share N3tn as July revenue rose by N658bn
Nigeria’s Federal, State, and Local Governments shared N3.007tn in July 2026 FAAC revenue, driven by increased petroleum and non-oil taxes. Learn how the N Read More: https://punchng.com/just-in-states-fg-lgs-share-n3tn-as-july-revenue-rose-by-n658bn/
FAAC Disburses N3.007trn from July 2026 Earnings to FG, States, Councils
By Aduragbemi Omiyale About N3.007 trillion of the N4.359 trillion revenue generated by Nigeria in July 2026 was disbursed in August 2026 to the three tiers of government by the Federation Account Allocation Committee (FAAC) at its meeting held in Owerri, Imo State, on the sidelines of the National Council of the Federation and Economic […]
Three Tiers Of Govt Harvest Bumper Revenue As FAAC Shares ₦3.007 Trillion
The three tiers of government have harvested bumper revenue as the Federation Accounts Allocation Committee (FAAC) has disbursed a first of its kind total sum of ₦3.007 trillion to the three tiers as revenue for the Month of July, 2026. The allocation was disclosed at the end its monthly meeting held in Owerri, […]
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