Nigerian government, states, councils share N718.1bn revenue for June
Nigerian government, states, councils share N718.1bn revenue for June The sum of N7.617 billion was refunded by the Nigerian National Petroleum Corporation (NNPC) as a result of its indebtedness to the Federation Account. The federal, state and local governments on Monday shared about N718.103 billion as statutory allocation for June 2013. The Minister of State for Finance and Chairman of the Federation Account Allocation Committee (FAAC), Yerima Ngama, said at the end of the monthly meeting of the committee in Abuja that N623.767 billion was distributed as statutory disbursements. The minister said the federal government received N294.038 billion, or 52.68 per cent; while the 36 state governments received a combined cheque of N149.140 billion, or 26.72 per cent; and all the local governments got N114.981 billion, or 20.6 per cent of the statutory disbursements. Following the stand-off between the states and the federal government last month, there was no augmentation for the mon...