FG, States, LGs Share N370bn For January

Hehehe...A total of N370 billion has been distributed to the federal, state and local governments for the month of January.

The Minister of Finance, Mrs Kemi Adeosun revealed this while addressing journalists after the monthly


Federation Accounts Allocation Committee (FAAC) meeting in Abuja. She said gross statutory revenue received for the January stood at two N290 billion.
While attributing a shortfall of N24 billion drop in revenue to shut down and maintenance repairs at major oil terminals, she said a total of N2 billion owed the Federal Government was refunded by the Nigeria National Petroleum Corporation (NNPC).