Daily Trust (Abuja)

Nigeria: September Allocation - FG, States, LGs Share 449.198 Billion

By Abdulwasiu Hassan, 12 October 2012

Federal, states and Local Governments have shared N449.198 billion naira for the month of September, N11.561billion less than the N460.759bn actual amount budgeted for the month.

According to an account statement read out by the minister of state for Finance, Lawal Ngama, at the end of the Federal Account Allocation Committee meeting today ,Federal Government got N211.742 bn, states got N107.399 bn Local Governments got N82.800 bn and oil producing states got N47.457bn as 13% derivation.

The month recorded improvement in Value Added Tax to the tune of N6.527bn,while it recorded N29.817bn increase in crude oil revenue. Ngama said the N7.617bn refunded by the NNPC has been distributed adding that the sum of N35.549bn is proposed for distribution under SURE-P programme. He said the Excess Crude Account is now $8.4 bn.

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