The Accountant-General of the Federation (AGF), Mr. Ahmed Idris, told journalists on Wednesday in Abuja at the end of the monthly Federation Accounts Allocation Committee (FAAC) meeting that the amount represented an increase of about N9.49 billion from what was shared in January.
Mr. Idris, who was represented by the Director of Funds, Office of the AGF, Mohammed Usman, said that the Federal Government received N223.15 billion, while the states got N113.18 billion and the local governments received N87.26 billion.
According to him, N45.09 billion, representing 13 percent of the mineral revenue was shared to the oil producing states.
In his breakdown of the revenue that accrued in February, Idris explained that the mineral revenue increased by N23.57 billion, up from N326.52 billion in January to N350.09 billion in February.
He added that the non-mineral revenue decreased by N46.27 billion, from N170 billion in January to N124.32 billion in February.
According to him, the nation’s crude oil sales increased by 46 percent, resulting in increased federation revenue from $425 million in January to $574 million in February.