Nigerian govt, states, local govts share N4.55 trillion in nine months

Buhari asks state governors to clear unpaid salaries

Federal, 36 states and 774 local governments shared revenue totalling N4.55 trillion from the federation account between January and September, this year.

The figure released in the quarterly report of Nigeria Extractive Industries Transparency Initiative (NEITI) says N1.76 trillion was shared in the third quarter, against N1.37 trillion in the first and second quarters.

The agency attributed the increase in revenue shared in the third quarter (July to September) to the increase in daily oil production and rise in oil prices in the world market.

The data from Nigerian National Petroleum Corporation (NNPC), according to NEITI, puts the average oil production at 1.95 million barrels daily last June, which is regarded as the highest since march 2016 when 1.95m barrels daily was produced.

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