The Federal Account Allocation Committee (FAAC), says on Thursday it distributed the sum of N559.032 billion to the three tiers of government.
This makes it highest allocation since the APC led administration of President Muhammadu Buhari took over power 12 months ago.
Minister of Finance and Chairman of FAAC, Mrs. Kemi Adeosun, who chaired the meeting said that the gross statutory revenue of N538.788 billion received for the month was higher than the N237.466 billion received in the previous month by N301.322 billion.
She attributed the improvement in the revenue to the non oil sector especially the Federal Inland revenue (FIRS) which she said has increased its collection by N165 billion as well as the Nigerian Customs Service.
This makes it highest allocation since the APC led administration of President Muhammadu Buhari took over power 12 months ago.
Minister of Finance and Chairman of FAAC, Mrs. Kemi Adeosun, who chaired the meeting said that the gross statutory revenue of N538.788 billion received for the month was higher than the N237.466 billion received in the previous month by N301.322 billion.
She attributed the improvement in the revenue to the non oil sector especially the Federal Inland revenue (FIRS) which she said has increased its collection by N165 billion as well as the Nigerian Customs Service.
