FG, States, LG shares N3.007trn monthly FAAC allocations for July 2026

Federal Accounts Allocation Committee (FAAC) has shared N3.007 trillion to the three arms of governments as July monthly allocations.
 The allocations rose by N658.09 billon over the June allocation due to improved receipts from petroleum and non-oil taxes.

According to a statement issued by Bawa Mokwa, the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, the disbursement was approved at the August 2026 meeting of the Federation Account Allocation Committee held in Owerri, Imo State.

The statement said the gross statutory revenue rose to N4.359 trillion in July from N3.700 trillion in June.

The gross statutory revenue rose to N4.359 trillion in July 2026, up N658.087 billion, a 17.8 per cent increase, from N3.700 trillion in June 2026, reflecting improved collection performance across oil and non-oil statutory sources.

Value Added Tax (VAT) revenue declined marginally to N793.968 billion in July from N799.746 billion in June, representing a decrease of N5.778 billion, or 0.7 per cent.

The committee said that Petroleum Profit Tax, Hydrocarbon Tax, Companies Income Tax, Capital Gains Tax, Stamp Duty, petroleum royalties, mineral royalties, excise duty and gas-flaring penalties recorded increases during the month.

It said the gains were partly offset by declines in VAT, import duty, Common External Tariff levies, gas-flaring fee rentals and miscellaneous oil revenue.