The Federation Account Allocation Committee (FAAC) says it distributed the sum of N2.3 trillion in May to the federal government, states, and local government councils.
According to NAN, Bawa Mokwa, director of press and public relations at the office of the auditor-general of the federation (OAGF), announced the allocation in a statement on Wednesday.
In April, the federal government, states, and local governments shared N2.25 trillion.
Mokwa said the May allocation was made at the June 2026 FAAC meeting held in Abuja.
He said the N2.3 trillion distributable revenue comprised N1.611 trillion statutory revenue and N688.785 billion value-added tax (VAT) revenue.
According to the communiqué issued after the meeting, total gross revenue available in May stood at N3.39 trillion.
The committee said N123.54 billion was deducted as cost of collection, while N971.61 billion was recorded as transfers, and refunds.
FAAC said gross statutory
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