Allocation To F.G, States, LGs Increases

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Minister Of Finance Nigeria,(L) Kemi Adeosun and Acting President Of Nigeria (R) Yemi Osinbajo.

Nigeria’s Federation Allocation Account Committee has distributed the N462.359 billion to the three tiers of government for the month of May 2017.

The allocations increased by N46.629bn from the N415.73 bn shared in April to N462.359bn in May this year, based on the figures released by the Federation Account Allocation Committee.

It also saw an increase of N43.452bn in gross statutory revenue from N274.110bn in April to N317.562bn in May‎.

Permanent Secretary, Ministry of Finance, Mahmoud Duste said the Federal Government received N189.941bn; states, N128.891bn; and the 774 local government councils, N96.646bn.

Correspondent Adeoye Olalekan reports that the federal government revealed that total constitutional revenue of N317.562bn received for the month was higher than the N274.110bn received in the previous month by N43.452bn.

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