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Govts share N788b

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Accountant-General of the Federation, Mr Ahmed Idris

The federal, state and local governments shared N788.139 billion from the federation account in October, the Accountant-General of the Federation, Ahmed Idris, disclosed yesterday.

Besides, the gross statutory revenue for the period was N682.161 billion, a N112.880 billion increase over the N569.281 billion figure of the previous month.

In a statement at the end of the Federation Account Allocation Committee (FAAC) meeting in Kaduna, Idris said crude oil sales increased by 0.82 million barrels, resulting in an increased revenue of $54.19 million to the nation.

He pointed out that the reports of revenue-collection agencies and military pensions were read and adopted, adding that the next FAAC meeting had been fixed for mid December in Abuja.


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