FG, states, LGs share N619bn for February

The Federation Accounts Allocation Committee, FAAC, shared N619.857billion to the three tiers of government as revenue generated for the month of February 2019, but shared in March 2019.

A communiqué at the end of a monthly meeting Wednesday indicates that from the N619.857 billion, the Federal Government received N2223.157bn, the states received N113.188bn, Local Government Councils received N187.263 bn.

Acting Accountant General of the Federation, AGF, Mohammed Usman, who briefed newsmen at the end of the FAAC meeting in Abuja, said the amount was lesser that N505.246 billion shared in January, which he attributed to the persistent shut down of oil installations within the month under review. T

he AGF also disclosed that the balance in the Excess Crude Account, ECA, currently stands at $183m, which is less than $249 billion recorded in the previous month by $66 million.