Wednesday 25 February 2015

Federal, States and LGs share N500.13bn for January

The federation account allocation committee yesterday shared the sum of N500.13 billion as revenue for the month of January, which is lower that N580.38 billion shared the previous month.
Briefing newsmen after the FAAC meeting, Minister of Finance for state and chairman of the committee, Isa Yuguda, stated that the gross revenue of N416.09 billion was received for the month of January, which indicated a decrease of N73.93 billion. 

Speaking further on behalf of the finance ministers of the 36 states, Timothy Odah, said the decline in revenue shared was as a result of the dwindling crude oil prices in the international market and subsequent devaluation of the 
The next FAAC meeting holds on the 16th and 17th of March, 2015.

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