FG, States, LGs Share N3.007 Trillion July Allocation, Statutory Revenue Jumps 17.8%

The three tiers of government have shared a total of N3.007 trillion as revenue for July 2026, marking a rise from the N2.551 trillion shared the previous month.

The allocation was approved at the Federation Account Allocation Committee (FAAC) meeting held on the sidelines of the ongoing National Council on the Federation and Economic Development (NACOFED) in Owerri, Imo State.

According to the communique issued after the meeting, the previous month's distributable revenue had comprised N1.810 trillion in statutory revenue and N740.724 billion generated from Value Added Tax (VAT). This month's figures, however, point to a notable strengthening of the country's underlying revenue base, with gross statutory revenue climbing to N4.359 trillion, an increase of N658.087 billion, or 17.8 per cent, compared to the N3.700 trillion recorded previously.

FAAC attributed the growth largely to improved collection performance across both oil and non-oil statutory revenue sources.

Gross VAT revenue, on the other hand, stood at N793.968 billion, reflecting a marginal decline of N5.778 billion, or 0.7 per cent, from the N799.746 billion recorded the month before. Analysts note that despite the slight dip, the figures suggest consumption-tax receipts have remained largely resilient month-on-month.

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