FG, States, LGs Share N568.41bn

[Shola Sholaz]

The Federal, States and Local Governments have shared N568.41 billion from the Federation Account for October, the Minister of State for Finance, Dr Yerima Ngama, said in Abuja yesterday.
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The News Agency of Nigeria, NAN, reports that the amount shared in September was N45.92 billion higher than the October figures.
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Ngama made this known at a news briefing at the end of the Federation Accounts Allocation Committee, FACC, meeting for October.
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A breakdown of the amount shows that the Federal Government received N213.82 billion, state governments N108.45 billion while local governments got N83.61 billion.
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He said the oil-producing states would receive their 13 per cent derivation funds of N47.11 billion compared to the N53.65 in September, representing a decline of N6.54 billion.