Naira notes
Nigeria Revenue Service (NRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received a combined N123.54 billion as revenue collection fees from the Federation Account Allocation Committee (FAAC) in June 2026.
The figure was contained in FAAC data released by the National Bureau of Statistics (NBS), covering revenue generated in May and distributed among the three tiers of government in June.
The collection fees represented about 3.6 per cent of the N3.40 trillion distributed by FAAC during the month.
The NRS received N84.69 billion, while the NUPRC received N38.85 billion.
FAAC distributed N3.40 trillion to the Federal Government, states and local governments in June, comprising N2.65 trillion from the Statutory Account and N743.67 billion from Value Added Tax (VAT).
The Federal Government received N818.68 billion, while state governments received N759.14 billion. Local governments received N534.28 billion.
Oil-producing states received N188.13 billion from the 13 per cent derivation fund, while the Federal Capital Territory (FCT), Abuja, received N30.62 billion.
The Federal Government’s allocation included N651.13 billion to the Consolidated Revenue Fund Account, as well as allocations for derivation and ecology, the Stabilisation Fund and natural resources development.
The combined collection fees paid to the NRS and NUPRC increased by N9.78 billion, or 8.6 per cent, from N113.76 billion in May. The NRS received N76.28 billion, while the NUPRC received N37.48 billion.
The increase in collection fees coincided with a rise in total FAAC distributions from N3.18 trillion in May to N3.40 trillion in June.
The May distribution comprised N2.13 trillion from the Statutory Account and N806.62 billion from VAT, alongside a N250 billion augmentation.
The collection fees represent the cost incurred by the agencies for collecting revenue before the proceeds are distributed through FAAC.
Separately, data from the NBS showed that Nigeria’s 36 states and the FCT generated a combined N5.15 trillion in Internally Generated Revenue (IGR) in 2025, up 40.93 per cent from N3.65 trillion recorded in 2024.
