on-demand

GOVERNMENT REVENUE DROPS BY N42BN AS FAAC ALLOCATES N610BN

The gross revenue that accrued into the federation account dropped by N42.21BN from N547.46BN recorded in December last year to N505.24BN in January.

This was disclosed shortly after the end of the federation account allocation committee meeting held at the headquarters of the ministry of finance in Abuja.

The meeting was attended by the commissioners of finance of the 36 states of the federation and representatives of revenue generating agencies.

Addressing journalists shortly after the meeting, the accountant-general of the federation, Alhaji Ahmed Idris, said that despite the revenue decline, the committee was able to allocate the sum of N610.36BN to the three tiers of government.

He said that additional approval of N50BN to be withdrawn from the foreign exchange equalisation account for distribution was being awaited by the committee.

ALSO READ:  Fuel subsidy removal: FG to legalise artisanal refiners

The approval, which is expected to be given by the minister of finance, Mrs Zainab Ahmed, would bring the total amount to be received during the period to N660.36BN.

Check Also

Rohr faces uncertain future after S’Leone draw

Super Eagles coach Gernot Rohr’s future with the national team “is hanging in the balance” …

I’m tired of being blamed for problems at Barcelona, says Messi

Team captain Lionel Messi says he is tired of being blamed for problems at FC …

Cyber scam: Police arrest three, uncover 50,000 email accounts, passwords

The Nigeria Police Force has taken into custody three persons for their alleged involvement in …

Leave a Comment