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FG, States, LGs share N647bn

By Emmanuel Ujah

The federal government and the other two tiers of government have shared the sum of N647. 390 billion.

The sum represented federation revenue and proceeds pf the Value Added Tax for the month of Febriary

The funds were shared by the Federation Accounts Allocation Committee (FAAC) at the end of its meeting in Abuja, this morning.

It followed days of angling over receipts into the Federation Account, which the state Commissioners of Finance initially rejected and insisted that the Nigerian National Petroleum Corporation (NNPC) must pay more oil revenue into the account.

Details later…


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