Shared N631.7bn in April
Federal, states and local governments have been charged to utilise the outcome of the recently held World Economic Forum (WEF) Africa for the benefit of Nigerians.
Also, the three tiers of government yesterday shared the total sum of N631.721 billion as statutory allocation from the federation account, against N641.380 shred in March.
Chairman of the Finance Commissioners’ Forum and Ebonyi State Commissioner for Finance, Barr. Timothy Odaah gave the charge yesterday in a chat with newsmen after the monthly Federation Accounts Allocation Committee (FAAC) meeting held in Abuja.
“We appeal to all tiers of government to try and utilised benefits of the success hosting of the World Economic Forum (WEF) because it’s a catalyst that will surely catapult the Nigerian economy to the whole wide world.
We appeal as well to the individual countries and their investors to have recourse in their former position about Nigeria we are very grateful from what we learnt that about $68 billion will come into African economies from it and Nigeria being the largest economy will surely take a chunk of it,” he said.
Meanwhile, the meeting which was chaired by the Accountant-General of the Federation, Jonah Otunla approved the sum of N634.721 billion to be shared among the three tiers of government.
A breakdown shows the federal government taking N249.060 billion (52.68%) from the N527.961 billion against N530.095 billion in March.
States got 126.327 billion (26.72%), while Local governments took N97.392 billion (20.60%). Oil producing states got N55.182 billion as 13% derivation.
According to Otunla the gross revenue of N584.151 billion received for the month was lower than the N614.358 billion received for April by N30.207 billion.
He attributed this to the decline mineral revenue owing to production shut-in at Qua Iboe and Yoho terminals, shut down of Forcados and Bonny terminals and repair works on brass terminal due to oil theft and pipeline leaks.