APRIL ALLOCATION: Three tiers of government share N443bn revenue

Federal, States and Local Governments have shared revenue totaling N443.6 billion from the federation account for the month of July.

The amount shared was N115.3 billion lower than N509.1 billion the three tiers of government collected in the month of June.

Federal government got the lion share of N258.15 billion, 36 state governments (N65.6 billion), 774 local governments (N50.3 billion), while the oil producing state received N12.8 billion as a 13 per cent derivation.

Federal Finance Ministry Permanent Secretary, Doctor Mahmoud Isa-Dutse, addressing newsmen after the monthly meeting of the federation account allocation committee in Abuja, blamed the sharp drop in the shared revenue on the militancy in the Niger Delta region.

Isa-Dutse explained that as a result of the militancy, some of the export terminals were shut down, thereby depriving the country from benefitting from the rise in crude oil price from $38.63 per barrel last march to $42.2 in April.

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