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FAAC: Federal, States, LGAs Share N400b

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Kemi Adeosun 



The Federal Account Allocation Committee says monthly allocation to the three tiers of government has increased by 13 billion naira from the month of December, 2016.

Speaking in Abuja after the monthly Federation Account Allocation Committee (FAAC) meeting, Minister of Finance, Kemi Adeosun, said that a total of 400 billion naira was shared between the federal, state and local government level for the month of December.
Mrs Adeosun said that the sum of 248 billion naira gross statutory revenue received, is higher by 8 billion naira compared with the 240 billion naira received in the month of November, 2016.

The Minister further explained that there was a revenue decline of 65 million dollars in federation export sales due to a drop in the volume of crude oil export of 1.390 million barrels.

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