By Emma Ujah

The three tiers of government, yesterday shared the sum of N821 billion representing federation revenue for the month of June.

Kemi Adeosun

The Minister of Finance,  Mrs. Kemi Adeosun, gave the figure while  briefing the press at the end of the month’s Federation Account Allocation Committee  (FAAC) meeting in Abuja.

According to her, President Muhammadu Buhari has directed a new template for calculating oil revenue remittance by the Nigerian National Petroleum Corporation  (NNPC).

This she said, would permanently address the controversy over inadequate remittances between the NNPC and  state governments. The breakdown showed that the federal government got N315 billion , while States and Local governments received N194.5 billion and N147, 05 billion,r espectively.

The oil producing states of the Niger Delta received additional N42.8 billion representing 13 per cent derivation. On the new template,  the minister said,that the draft would be out by next month  and be sent to the states for their inputs.