The Federation Accounts Allocation Committee has approved the sharing of six hundred and seventy-six point four billion naira to the Federal, State, Local governments.
The decision was reached at the meeting of the Committee for the month of August and the allocation covers revenue generated in the month of July.
The Permanent Secretary in the Federal Ministry of Finance, MAHMUD ISA-DUTSE, confirmed that the Federal Government received two hundred and seventy-three point one billion naira.
ISA-DUTSE said the governments of the thirty-six states shared one hundred and ninety point eight billion naira.
He also said one hundred and forty-two point seven billion naira was shared among the seven hundred and seventy-four local government councils.
Additionally, oil producing states in the Niger Delta region received forty-two point eight billion naira as derivation revenue.