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A total sum of ₦2.300 trillion, being the May 2026 Federation Account Revenue, has been shared between the federal government, states, and the local government councils.
In a statement on Wednesday by the spokesperson of the Office of the Accountant General of the Federation, Bawa Mokwa, the revenue was shared at the June 2026 Federation Account Allocation Committee FAAC meeting held in Abuja.
The N2.300 trillion total distributable revenue comprised distributable statutory revenue of N1.611 trillion and distributable Value Added Tax (VAT) revenue of N688.785 billion.
A communiqué issued by the Federation Account Allocation Committee (FAAC) indicated that the total gross revenue of N3.395 trillion was available in the month of May 2026. Total deduction for cost of collection was N123.546 billion, while total transfers and refunds were N971.610 billion.
According to the communiqué, gross statutory revenue of N2.651 trillion was received for the month of May 2026. This was higher than the sum of N2.378 trillion received in the preceding month by N273.623 billion.
Gross revenue of N743.668 billion was available from the Value Added Tax (VAT) in May 2026. This was lower than the N806.617 billion available in the month of April 2026 by N62.949 billion.
The communiqué stated that from the N2.300 trillion total distributable revenue, the federal government received a total sum of N818.680 billion, and the state governments received a total sum of N759.141 billion.
The local government council received N534.277 billion, while the sum of N188.132 billion (13% of mineral revenue) was shared with the benefiting state as derivation revenue.
On the N1.611 trillion distributable statutory revenue, the communiqué stated that the federal government received N749.801 billion and the state governments received N380.309 billion.
The local government councils received N293.202 billion, and the sum of N188.132 billion (13% of mineral revenue) was shared with the benefiting states as derivation revenue.
From the N688.785 billion distributable Value Added Tax (VAT) revenue, the federal government received N68.879 billion, the state governments received N378.832 billion, and the local government councils received N241.075 billion.
In May 2026, Companies Income Tax (CIT), CGT, SDT, Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Oil and Gas Royalty increased significantly, while Import Duty, Value Added Tax (VAT), Excise Duty, and CET Levies decreased considerably.
Karl Toriola has a message for the Nigerians who have spent months arguing that mobile data costs too much: check Kenya. Check Congo. Check anywhere else on the continent, and then, he says, come back and explain why Nigeria is the problem.
The MTN Nigeria chief executive delivered that challenge publicly Saturday at the MTN Data Trial conference in Lagos, mounting a comparative defense of the country’s data pricing that framed Nigeria — the continent’s most populous nation and one of its most contested telecoms markets — as a global bargain rather than a consumer liability. The argument landed in a market still absorbing the aftershocks of a 50% tariff increase imposed 17 months ago, the first rate adjustment the industry had seen in more than a decade.
Whether Toriola’s numbers hold under scrutiny depends significantly on which numbers are being compared.
Cable.co.uk’s annual worldwide mobile data pricing index, which tracks average cost per gigabyte across more than 230 countries, consistently places several sub-Saharan African markets — including Nigeria — in the lower cost tiers globally. On raw price-per-gigabyte measures, Nigeria has ranked among the more affordable markets. The complication is that affordability relative to income tells a different story: Nigeria’s GDP per capita sits below $2,200, placing it among the world’s lower-income economies, and the share of monthly income a typical Nigerian worker must spend to access a meaningful data bundle is substantially higher than what the same bundle costs a worker in Europe, North America, or East Asia — even when the nominal price is lower.
Toriola did not address that dimension of the argument on Saturday.
Read also: ‘Rare Breed Of Businessman’- Tinubu Mourns Ex-MTN Nigeria Chair
What he did say was direct. “Influencers and critics, look at the price at which we sell bundles of data,” he said. “Go and check in Kenya, go and check in Congo, go and check across the world, and tell me if you are not going to tell me that data in Nigeria is one of the four cheapest in the world.” He acknowledged Ghana as a comparable market, then extended his claim beyond MTN to encompass the entire Nigerian telecoms sector. Even after the tariff increase, he argued, the country’s data costs remain globally competitive.
The tariff increase he referenced is not a minor footnote to the argument. It is the argument’s context.
In January 2025, the Nigerian Communications Commission approved a 50% increase in telecoms tariffs — a figure the NCC described as a concession, given that some operators had sought increases exceeding 100%. The regulator cited operational cost pressures, the depreciation of the naira against the dollar, and the need to sustain infrastructure investment as justifications for the first rate revision since 2013.
It framed the increase as a structural correction, not a windfall — one designed to ensure continued network investment rather than immediate profit extraction.
