Federal, State, Local Governments Share N575 billion For January

[ChannelsTV]

The three tiers of government are to share the sum of N575 billion for the month of January 2013.

The Minister of State for Finance, Yerima Ngama, who spoke with reporters after the federation accounts allocation committee meeting in Abuja, said the Federal Government got the sum of N216 billion, State governments got N109 billion, while the local government got a share of N84 billion.

Mr Ngama said that N49 billion is to be distributed to oil producing states as part of their 13percent oil derivation, while $9.2 billion is the total amount in the nation's excess crude account.



Via: ChannelsTV