The Federal Government, States and Local Government Areas shared N762.5 billion as federal allocation for the month of June.
He said that the gross statutory revenue of N652.9 billion received for the month was higher than the N571.7 billion received in May by N81.21 billion. Idris added that the shared amount comprised the month’s statutory distributable revenue of N652.949 billion. On the sharing formula, he said the Federal Government received N309.4 billion representing 52.68 per cent, while states received N201.15 billion representing 26.72 per cent.
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