The Federal Government, states and local governments have shared N3.007 trillion in revenue for July 2026.
The allocation was approved at the Federation Account Allocation Committee, FAAC, meeting held on Tuesday on the sidelines of the ongoing National Council on Federation and Economic Development, NACOFED, in Owerri, Imo State.
According to the FAAC communiqué, the latest allocation reflects an improvement in the country’s underlying revenue performance.
Gross statutory revenue increased to N4.359 trillion, representing a rise of N658.087 billion, or 17.8 per cent, compared with the N3.700 trillion recorded in the previous month.
The committee attributed the increase to stronger collections from both oil and non-oil statutory revenue sources.
Meanwhile, gross Value Added Tax, VAT, revenue stood at N793.968 billion. This represents a marginal decline of N5.778 billion, or 0.7 per cent, from the N799.746 billion recorded in the previous month.
The FAAC said the relatively small decline indicated that consumption-tax collections remained largely resilient from month to month.
