Minister of State for Finance, Yerima Ngama Thursday said the Federal, States and Local Governments have shared N568.41 billion from the Federation Account for October.
According to him, the amount shared in September was N45.92 billion higher than the October figures, he told newsmen at the end of the Federation Accounts Allocation Committee meeting for October.
The Federal Government received N213.82 billion, while state and local governments received N108.45 billion and N83.61 billion respectively.
Also due to shortfall in revenue oil-producing states would receive their 13 per cent derivation funds of N47.11 billion, compared to the N53.65 in September, representing a decline of N6.54 billion.
The Minister said the country received N443.05 billion revenue from mineral resources in October, compared to N431.07 billion received in September, representing an increase of N11.98 billion.
Non-mineral revenue generated in October amounted to N96.5 billion, compared to N94.54 billion generated in September, representing an increase of N1.96 billion.
He spoke further, “The funds available for distribution had been adjusted with transfer to excess crude and this month, we have transferred N80.65 billion to excess crude account”.
