Minister of Finance, Kemi Adeosun, disclosed on Tuesday, that N370.4 billion was shared in January among the three tiers of government as allocations for carrying out their duties and obligations.Premium Times reports
In December 2015, The sum of N387.771 billion was shared among the Federal, States and Local Governments as revenue.
A breakdown of the revenue among the three tiers, states that the Federal Government received N137.5 billion, representing representing 52.68 per cent, states N69.7 billion, representing 26.72 per cent. The local governments received N53.7 billion, amounting to 20.60 per cent of the amount distributed.
According to the minister, a total sum of N6.3billion was refunded to the federation by Nigerian National Petroleum Corporation (NNPC) and was also proposed for sharing.
She further stated that, the amount went down by N17.371 billion due to the countries dwindling fortunes.
