The Federation Account Allocation Committee (FAAC) disbursed a record N2.55 trillion to federal, state, and local governments in June 2026, marking the highest monthly allocation of the year.This comes as the federal account's gross revenue reached N4.501 trillion, driven by strong statutory revenue and VAT collections.The federal government received N923.438 billion, states got N838.208 billion, and local governments got N591.390 billion.Oil-producing states also received N197.610 billion as 13% derivation.The allocation includes N1.810 trillion in statutory revenue and N740.724 billion from VAT.This represents a N1.

049 trillion increase in statutory revenue compared to May 2026, attributed to higher receipts from taxes like Companies Income Tax, VAT, and Petroleum Royalties.Despite growth in some areas, Petroleum Profit Tax and Hydrocarbon Tax collections saw declines.The FAAC noted improved revenue performance, with VAT revenue rising by N56.078 billion to N799.746 billion in June.