Wednesday, 21 September 2016

FG, States, LGs shared N510bn in August

The Minister of Finance, Mrs Kemi Adeosun, on Tuesday in Abuja, said N510.2 billion was shared among the federal, states and local governments as revenue realised in August.
She made the disclosure while addressing a news conference on the outcome of the Federation Account Allocation Committee (FAAC).
The amount is higher than the N493.6 billion shared in July by N16.6 billion.

The minister said that during the month, N315 billion was generated as statutory distributable revenue, adding that this was higher than the N287.8 billion received in the previous month by N27.22 billion.

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