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FAAC: FG, States, LGs share N788.13bn Oct., higher than Sept. by N89.42bn

The Federal Government, States and Local Governments, on Wednesday shared N788.13 billion as federal allocation for the month of October at the Federation Account Allocation Committee (FAAC) meeting.
A statement issued by Mr Oise Johnson, Head, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), said the meeting was held after the 2018 National Council On Finance and Economic Development (NACOFED), in Kaduna.
He said that the figure distributed was higher than the N698.7 billion shared for the month of September by N89.42 billion.
Oise said a communique signed by the Accountant-General of the Federation, Mr Ahmed Idris was issued at the end of the meeting.
“The communiqué issued by the Technical Sub -Committee of FAAC indicates that crude oil export sales increased by 0.82 million barrels, resulting in an increased revenue to the federation of 54.19 million dollars.
(NAN)

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