FAAC: FG States, LGs share N345bn as February revenue

The Minister of Finance, Kemi Adeosun, on Tuesday in Abuja, said that N345 billion was shared among the federal, states and local governments as revenue for February 2015.


Mrs Adeosun, who was represented by the Permanent Secretary, Ministry of Finance, Mahmoud Isa Dutse, announced this when she addressed newsmen on the outcome of the Federation Accounts Allocation Committee (FAAC) meeting.


She said that the shared amount comprised the month’s statutory revenue of N270.5 billion.


“Also, there is the exchange gain of N3.49 billion which is proposed for distribution.