The federal account allocation committee (FAAC) has disbursed the total sum of ₦3.007 trillion to the Federal, States and the Local Government Councils as revenue for July 2026.

In a communique Tuesday signed by Director Press and Public Relations in the Office of the Accountant General of the Federation (AGF), Bawa Mokwa, the record amount is an indication of Nigeria’s growing revenue base.

A breakdown of the amount showed that the Federal Government received a total sum of N1.146 trillion, the State Governments received the sum of N943.352 billion while the Local Government Council got N673.649 billion. The sum of N243.478 billion (13% of mineral revenue) was shared to the benefiting states as derivation revenue.

According to Mokwa in the statement, gross statutory revenue rose to ₦4.359 trillion in July 2026, up ₦658.087 billion, indicating a 17.8% increase – from ₦3.700 trillion in June 2026, reflecting improved collection performance across oil and non-oil statutory sources.

Furthermore, gross value added tax (VAT) revenue held broadly steady at ₦793.968 billion, a marginal decline of ₦5.778 billion (0.7%) from ₦799.746 billion in June, suggesting consumption-tax receipts remain resilient month-on-month.

The communiqué attributed the month’s gains to broad-based strength across several revenue lines.

“Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duty Tax (SDT), Petroleum Royalties, Mineral Royalties, Excise Duty and Gas Flared Penalty all recorded significant increases in July 2026, pointing to firmer compliance and collection efficiency across both oil and non-oil channels,” the revenue allocation committee noted.

These gains were partly offset by declines in Value Added Tax (VAT), Import Duty, CET Levies, Rental of Gas Flared Fee and Miscellaneous Oil Revenue, which the Committee will continue to monitor as it works with revenue-generating agencies to close collection gaps and improve remittance discipline.