BREAKING: FAAC: FG, States, LGCs share N2.3tn as May revenue

A full sum of N2.300 trillion, being the May 2026 Federation Account Revenue, has been shared betwixt the national government, states, and the section authorities councils.

In a connection connected Wednesday by the spokesperson of the Office of the Accountant General of the Federation, Bawa Mokwa, the gross was shared astatine the June 2026 Federation Account Allocation Committee FAAC gathering held successful Abuja.

The N2.300 trillion full distributable gross comprised distributable statutory gross of N1.611 trillion and distributable Value Added Tax (VAT) gross of N688.785 billion.

A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that the full gross gross of N3.395 trillion was disposable successful the period of May 2026. Total deduction for outgo of postulation was N123.546 billion, portion full transfers and refunds were N971.610 billion.

According to the communiqué, gross statutory gross of N2.651 trillion was received for the period of May 2026. This was higher than the sum of N2.378 trillion received successful the preceding period by N273.623 billion.

Gross gross of N743.668 cardinal was availab...