Federal government distributes N465 billion for January.
Federal government says 465 billion naira has been distributed to the three tiers of government as revenue collected for the month of January.
This was revealed by the permanent Secretary of the ministry of finance Mahmud Dutse, who chaired the federation account allocation committee(FAAC) meeting held on Tuesday.
Commissioners of finance from various states were present at the (FAAc) meeting which took place in abuja.
Mr dutse said the distributed amount was 65 billion, higher than what was shared the pervious months. He explained that the increase was as a result of growth in federation export sales by $74.9 million, resulting from a price in crude oil export volume by $1.49 million barrels. As well as an increase in the average price of crude from $47.3 to$49.7 per barrel.
With excess crude amount standing at $2.45 billion, the chairman of finance commissioners' forum, Mahmoud sali highlighted the position of the states.
He said the state government are willing to compliment efforts to boost available resources by reducing their dependence on the federal government by up to 50% over the next two years.
Source: channel news
This was revealed by the permanent Secretary of the ministry of finance Mahmud Dutse, who chaired the federation account allocation committee(FAAC) meeting held on Tuesday.
Commissioners of finance from various states were present at the (FAAc) meeting which took place in abuja.
Mr dutse said the distributed amount was 65 billion, higher than what was shared the pervious months. He explained that the increase was as a result of growth in federation export sales by $74.9 million, resulting from a price in crude oil export volume by $1.49 million barrels. As well as an increase in the average price of crude from $47.3 to$49.7 per barrel.
With excess crude amount standing at $2.45 billion, the chairman of finance commissioners' forum, Mahmoud sali highlighted the position of the states.
He said the state government are willing to compliment efforts to boost available resources by reducing their dependence on the federal government by up to 50% over the next two years.
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