FAAC: FG States, LGs share N2.6 trn

The Federation Account Allocation Committee (FAAC) shared a total of ₦2.551 trillion among the Federal Government, the 36 States, and the 774 Local Government Councils for June 2026. The meeting, chaired by Minister of Finance Taiwo Oyedele, was held in Abuja. The revenue comprised ₦1.810 trillion in statutory revenue and ₦740.724 billion from VAT. The Federal Government received ₦923.438 billion, States ₦838.208 billion, Local Government Councils ₦591.390 billion, and ₦197.610 billion was allocated to oil-producing states as 13% derivation.