Federal, states and LGs share 698.7 billion naira from federation revenue

The Federal, states and local governments have shared a total of N698.710 billion from federation revenue that acrued in the month of September.

The gross statutory revenue for the month was 569.281 billion Naira, which was lower than the N627.139 billion shared in August by N57.858 billion.

The Minister of Finance, Zainab Shamsuna Ahmed, who presided over the monthly Federation Account Allocation Committee (FAAC) meeting stressed on the need for the three tiers of government to save.

A statement by the Special Adviser to the minister of finance on Media and Communications, Paul Ella Abechi, said the Minister tasked members of the committee on the need to be transparent in public funds administration.

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