The Federal, state, and local governments have shared a total of N648.71 billion for the month of September. Minister of Finance, Mrs Zainab Ahmed, announced this on Friday at the end of the monthly Federation Account Allocation Committee (FAAC) meeting in Abuja.
According to her, the gross statutory revenue for the month is N569.3 billion naira which is N57.9 billion less than the N627.14 billion shared in August. The minister, who presided over the FAAC meeting, stressed the need for the three tiers of government to save.
She also challenged members of the committee to maintain transparency and instill a saving culture for the rainy day in various states. The next FAAC meeting is expected to hold during the National Council of Finance and Economic Development Conference in Kaduna, scheduled for Wednesday, November 28.
Source: Channels TV