The total sum of N547.3 was shared between the 3 tiers of government for May.
Meanwhile, a total of N3.33 trillion as being disbursed between January and May 2020.
The increase in revenue was attributed to higher crude oil sales and increasing tax receipts.
Petrol subsidy gulped N101.65bn in the first three months of the year.
Nigeria’s excess crude account has now fallen by a whopping 98% in just 5 years.
Nigeria’s external reserve position is now $9 billion years to date and down from its peak of $45.17 billion achieved.
The Federation Account Allocation Committee (FAAC) disbursed the sum of N780.93bn to the three tiers of government in April 2020 from the revenue generated in March...
Members of FAAC have disagreed over the amount presented by revenue-generating agencies for allocation to FG, State and Local governments.
FAAC has allocated the sum of N635.82 billion to the Federal, States and Local Governments across the nation as revenue for the month of November. #FAAC
The FAAC disbursed the sum of N327.68 billion to the 36 states and the 744 local governments in September 2019.