• FG, States, LGs shared N2.53trn in 7 months – report

    FG, States, LGs shared N2.53trn in 7 months – report

    According to reports, the federal, states and local governments have shared N2.53 trillion as proceeds of revenues from the Federation Account from January to July, the News Agency of Nigeria (NAN) reports.

    The figures were derived from documents obtained from the Federal Ministry of Finance, showing that the total revenue generated for the months under review was N2.73 trillion.

    However, deductions were made for cost of collection to Nigeria Customs Service (seven per cent); Federal Inland Revenue Service (four per cent) and […]