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| The Minister of State for Finance, Yerima Ngama |
The Federation Accounts Allocation Committee on Monday distributed the sum of N718.10 billion among the three tiers of government.
The allocation, which is for the month of June, represents an increase of N27.60 billion over the N620.56 billion shared in the month of May. The Minister of State for Finance, Yerima Ngama, who briefed journalists at the end of the statutory meeting, said the revenue was distributed under various sub-heads.
They are statutory distribution, N623.76 billion; Value Added Tax, N51.17 billion; Subsidy Reinvestment and Empowerment Programme, N35.54 billion; and debt repayment by the Nigerian National Petroleum Corporation, N7.617 billion.
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