• FG, States, LGs share N420bn

    FG, States, LGs share N420bn

    According to reports, the Federal Government, States and Local government shared N420 billion in revenue allocation in September.

    The Permanent Secretary, Ministry of Finance, Dr. Mahmoud Isa- Dutse disclosed this in Abuja yesterday at the end of the Federation Account Allocation Committee( FAAC).

    However, there was N90.2 billion allocation shortfall as N510.27 was shared in August.

    The reduction sprang from sustained attacks on oil installations and pipeline vandalism that made revenue generation difficult, despite increase in average price of crude oil at global […]