Three Tiers Of Government Share N905 Billion Lower Than Anticipated N1.9trillion

The three tiers of government have shared N905 billion revenue as their statutory allocation from the federation account for the month of June 2023.

The amount shared was about N790 billion, lower than the N1.9 trillion revenue windfall anticipated by the state governors for the month.

But it was the highest shared revenue in the past two years.

N790 billion from the N1.9 trillion distributable revenue was to be paid into an infrastructure support fund, created for the 36 states for measures to cushion the harsh effects of the petrol subsidy removal.

Dele Alake, the presidential spokesman, told the state house corrspondents at the presidential villa, that it was agreed upon during the monthly meeting of the federal allocation account committee in Abuja, on Thursday, that a portion of monthly distributable revenue should be saved.

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He did not give the break down of sharing of the allocation to each of the tiers of government .

Alake explained that the new infrastructure support fund would assist the states intervening and investing in critical areas of transportation, particularly farms to market roads.

Others are intervention in livestocks, ranching, basic education, power sectors as well as water resources.