The Federation Account Allocation Committee (FAAC) has distributed a record N3.007 trillion to the Federal Government, states and local government councils for July 2026.
The allocation represents the highest monthly amount shared by the three tiers of government, reflecting an increase in revenue available for distribution.
The funds were shared among the Federal Government, state governments and local government areas in accordance with the approved revenue-sharing formula.
The allocation is expected to provide additional financial resources for the three tiers of government to meet their obligations and fund ongoing projects and programmes.
The latest disbursement comes amid efforts by the government to improve revenue generation and strengthen public finances.
The FAAC allocation remains a major source of funding for states and local governments, many of which rely significantly on monthly distributions to meet their financial commitments.
