Nigeria’s Accountant-General Alhaji Ahmed Idris, told journalists after Federation Account Allocation Committee meeting on Wednesday in Abuja that in spite of drop in revenue that the committee was able to allocate the sum of N610.36bn to the three tiers of government.
He said that additional approval of N50 billion to be withdrawn from the Foreign Exchange Equalisation Account for distribution was being awaited by the committee.
Idris explained that the approval would be given by the Minister of Finance, Mrs. Zainab Ahmed, and that it would bring the total amount to be received during the period to N660.36bn.
According to Idris, the Federal Government received N252.412 billion, while the States received N170.541, the Local Government Councils received N127.923 billion.
The oil producing states received N41.992 billion as 13 percent derivation revenue and the Revenue Generating Agencies received N17.500 billion as cost of revenue collection. ($1=N305)