The Federal Government, the 36 states and 774 local government councils shared N3.007tn in federation revenue for July 2026, as statutory revenue rose sharply on the back of stronger petroleum and non-oil tax collections.
The disbursement was approved at the August meeting of the Federation Account Allocation Committee (FAAC), held in Owerri, Imo State, where officials also called on the three tiers of government to convert the recent revenue gains into sustainable economic development.
According to a statement issued on Tuesday by Bawa Mokwa, Director of Press and Public Relations in the Office of the Accountant-General of the Federation, gross statutory revenue increased to N4.359tn in July from N3.700tn in June.
The N658.087bn increase represents a 17.8% month-on-month rise and reflects improved collections from several oil and non-oil revenue streams.
“Gross statutory revenue rose to N4.359 trillion in July 2026, up N658.087bn, a 17.8 per cent increase, from N3.700tn in June 2026, reflecting improved collection performance across oil and non-oil statutory sources,” Mokwa said.
The latest increase in federation revenue comes amid a broader rise in government receipts following major fiscal reforms, including the removal of the petrol subsidy, foreign-exchange reforms and measures to broaden Nigeria’s tax base.
While July’s statutory revenue performance represents a significant improvement, the committee cautioned that sustaining the gains would depend on continued improvements in revenue collection, remittance and fiscal discipline.
“The Committee noted that sustaining the statutory revenue gains recorded in July 2026 will depend on continued discipline in collection and remittance across Ministries, Departments and Agencies,” the statement said.
The broader challenge for the Federal Government and the states, therefore, is no longer simply how to distribute rising federation revenue, but how to channel the additional funds into productive investments, infrastructure, human capital and economic activity capable of improving living standards and strengthening public finances over the long term.
