BY: Hassan Turaki.
The Federal Government, the 36 states and the 774 Local Government Councils have shared a total of N3.007 trillion from the Federation Account as revenue allocation for July 2026.
The disbursement reflects a significant increase, with statutory collections rising by N658.09 billion compared to the previous month.
The improved revenue was largely driven by higher receipts from both petroleum and non-oil tax sources, according to figures released by the Federation Account Allocation Committee, FAAC.
Officials noted that the jump in collections underscores the impact of ongoing reforms aimed at boosting government revenue and reducing reliance on oil.The allocation was approved during the August 2026 meeting of FAAC, which was held in Owerri, Imo State.
Members of the committee, comprising finance commissioners from the 36 states and representatives of the Federal Government, reviewed the revenue performance for July before approving the distribution formula.
A statement issued on Tuesday by the Director of Press and Public Relations in the Office of the Accountant-General of the Federation, Bawa Mokwa, said the gross statutory revenue for July stood at N4.359 trillion.
This represents an increase from the N3.700 trillion recorded in June 2026, indicating stronger compliance and improved collections across key revenue agencies.
The FAAC communique further disclosed that after deductions for cost of collection, transfers, and other statutory interventions, the balance was distributed among the three tiers of government.
The rise in revenue is expected to provide fiscal relief to states and local governments as they continue to grapple with rising expenditure pressures and infrastructure demands.
