FG, states, LGs share N465.1bn in January 2017

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The three tiers of government shared N465.149 billion from the January 2017 Federation Account Allocation Committee (FAAC) disbursements. Details from the FAAC show that the figure is N65.149 billion higher than what was shared in December 2016, The Sun reports.

 The Permanent Secretary, Ministry of Finance, Alhaji Mahmoud Isa-Dutse, who disclosed this in Abuja at the end of the meeting said he was excited that there was improvement in Federal Government revenue despite the Force Majeure and total shut-down of pipelines for repairs and maintenance due to leakages and sabotage.

For January, a total of N273.452 billion was shared as statutory allocation with the Federal Government pocketing N133.192 billion, state governments N67.557 billion, local governments councils N52.083 billion and N20.620 billion was disbursed as 13 per cent derivation to oil mineral producing states.