The Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018.The amount shared represented an increase of 37.3 percent when compared with N1.411 trillion shared during the same period in 2017 and 71.1 per cent of the N1.132 trillion shared in the same quarter of 2016.
The Federal, States and Local Government in October shared N532.7 billion which shows a decline of N25.3 billion when compared to what they shared in September.
Governors, ministers, eggheads from the federal, states and local governments across the country, among others, will on Tuesday converge on Abeokuta, the Ogun State capital, to examine available options open to shore up government revenue streams, especially in an environment of dwindling earnings from crude oil.
The cash shared for March, given out yesterday after the Federation Accounts Allocation Committee (FAAC) meeting, dropped significantly to N299.747 billion from the N338.765 billion shared for February.
Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has said that the panacea to the national economic woes is to revert back to the practice of true federalism.
The Federal Government yesterday shared the sum of N345.095 billion with the the States and Local Governments for the month of February.
The amount was short of N25.293 billion from the N370 billion shared in the preceding month.
A breakdown of the figure showed that federal Government received N127.200 billion, States received N64 billion, while Local Governments got N49.740 billion.
Sunday Ode, Abuja
The 36 state governors in the country have resolved to partner with the Ministry of Solid Minerals Development towards job creation for the teeming unemployed youths in the country.
MINISTER of Finance, Mrs. Kemi - Adeosun
FEDERAL Account Allocation Committee (FAAC) has distributed a total sum of three hundred and eighty seven billion, Seven hundred and seventy one million naira (N473.832 billion) to Federal, States and Local Governments for the month of December inclusive of Value Added Tax (VAT).