Federal, States, Councils share N605.9bn for May

The Federal Government, states and Local Government Councils (LGCs) have shared N605.958 billion as federation allocation for the month of May.
Mr Charles Nwodo, Director, Information in the Ministry of Finance, Budget and National Planning said this was according to a virtual conference of the Federation Accounts Allocation Committee (FAAC) on Wednesday.
The committee, in its communique, noted that N605.958 billion shared included cost of collection to Nigeria Customs Service (NCS), Department of Petroleum Resources (DPR) and the Federal Inland Revenue Service (FIRS).
The committee also stated that the Federal Government received N242.120 billion, the states received N194.195 billion, the LGCs got N143.742 billion.
It added that the oil producing states received N26.901 billion as derivation (13 per cent of Mineral Revenue)…


Leave a Reply