FAAC: FG, States, LGA Share N610.36bn Allocation In February - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
February 28, 2019
The Accountant-General of the Federation AhmedIdris said the Federal Government shared 610.36 billion naira, generated inJanuary to the three tiers of government.
He said this at a news conference at the end ofthe monthly Federation Accounts Allocation Committee, FAAC meeting in Abuja.
He, however, said approval was being awaitedfrom the Minister of Finance Zainab Ahmed for additional 50 billion naira fromthe Foreign Exchange Equalization Account, which would be distributedaccordingly.
According to Idris, Nigeria’s Excess CrudeAccount currently stands at 249 billion dollars.
A communiqué issued at the end of the meetingnoted that in January, the federation crude oil sales increased by 2.4 millionbarrels, resulting in increased federation revenue by 149.94 million dollars,in spite of a drop in price of crude oil from 81.06 dollars to 75 dollars perbarrel.