How FG, States and Local Governments Shared N635 Billion in January

The three tiers of government have shared the sum of N635 billion among themselves since January.

The breakdown figures of the sharing was arrived at during a meeting of the Federation Account Allocation Committee in Abuja on Thursday.

The funds comprised N538 billion mineral and non-mineral revenue and N96 billion Value Added Tax (VAT).

The Federal Government received N262 billion, the states got N172 billion while the local governments received N129 billion.

Oil producing states also received extra N52 billion in derivation revenue.