FAAC disburses record highest N3.007tn to FG, states, LGs for July

The Federation Account Allocation Committee, FAAC, has approved the disbursement of N3.007 trillion to the Federal Government, state governments and local government councils as revenue for July 2026.

The decision was reached at the FAAC meeting held in Owerri, Imo State, according to a statement issued on Tuesday by the spokesperson for the Office of the Accountant-General of the Federation, Bawa Mokwa.

During the period under review, FAAC’s gross statutory revenue rose to N4.359 trillion, representing an increase of N658.087 billion, or 17.8 per cent, from the N3.700 trillion recorded in June 2026.

The July disbursement also increased by N457 billion compared with the N2.55 trillion shared in June.

DAILY POST reports that the N3.007 trillion distributed in July represents the highest monthly FAAC allocation recorded so far in 2026.

However, gross Value Added Tax, VAT revenue fell marginally to N793.968 billion in July, down by N5.778 billion, or 0.7 per cent, from the N799.746 billion recorded in June.

DAILY POST recalls that FAAC distributed N1.96 trillion in January, N1.89 trillion in February, N2.04 trillion in March, N2.25 trillion in April, N2.30 trillion in May and N2.55 trillion in June.

The total amount distributed between January and June 2026 stood at N12.99 trillion.

With the latest July allocation of N3.007 trillion, the Federal Government, 36 state governments and 774 local government councils have collectively received N15.997 trillion from FAAC so far in 2026.