Nigeria’s three tiers of government – federal, states and local government councils – shared N617.6 billion as federal allocations for March 2019.
There was also N653 million foreign exchange gain; about N13 billion from Foreign exchange Equalisation; N55 billion from Good & Valuable Consideration as well as N10 billion added by Nigerian National Petroleum Corporation .Consequently, from the net distributable revenue for the month, the federal government received about N257.8; states, N168.3 billion; local government councils, N126.6 billion.
The breakdown of allocation from the statutory revenue generated showed the federal government took N208.4 billion or 52.68 per cent; states, N105.7 billion; councils, N81.5 billion. This resulted in increased federation revenue by about $240.23 million. The average crude oil price increased from $63.62 to $79.06 per barrel.
Less than the amount NGRSenate budgeted for 2019 alone. How many are they again?
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