Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

The Federal Government, 36 state governments and 774 local government councils shared a combined N15.997 trillion in revenue from the Federation Account between January and July 2026.

The figure, which is almost N16 trillion, was boosted by the latest N3.007 trillion allocation for July, the highest monthly disbursement recorded so far this year.

The Federation Account Allocation Committee, FAAC, approved the July distribution during its meeting in Owerri, Imo State.

The development was contained in a statement issued on Tuesday by the spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa.

FAAC disbursed N1.96 trillion in January, N1.89 trillion in February, N2.04 trillion in March, N2.25 trillion in April, N2.30 trillion in May and N2.55 trillion in June.

The combined amount shared during the first six months of 2026 stood at N12.99 trillion.

Following the release of the N3.007 trillion July allocation, total FAAC disbursements for the first seven months of the year climbed to N15.997 trillion.

The July distribution was N457 billion higher than the N2.55 trillion shared in June, representing a monthly increase of 17.9 per cent.

Meanwhile, gross statutory revenue recorded a substantial rise in July, reaching N4.359 trillion compared with N3.700 trillion in June.

The increase amounted to N658.087 billion, representing a growth of 17.8 per cent.

However, revenue generated from Value Added Tax, VAT, recorded a slight decline during the same period.

Gross VAT revenue dropped from N799.746 billion in June to N793.968 billion in July.

This represents a reduction of N5.778 billion, equivalent to a 0.7 per cent decline.

The latest figures indicate that FAAC distributions averaged approximately N2.285 trillion per month between January and July 2026.

July’s N3.007 trillion allocation remains the highest monthly amount shared during the period under review.

Recall that the Minister of Finance, Taiwo Oyedele, had stated that each tier of government received no less than N2 trillion monthly during the period under review.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.