Federal Government, States And LGs Share N668.8bn For May
The three tiers of government have finally received the sum of
N668.8bn as allocation for the month of May after many after weeks of
horse-trading over revenue underpayment by the Nigeria National
Petroleum Corporation.
This was made public by the Director of Information in the Ministry
of Finance, Mr Hassan Dodo confirmed the release of the fund in a
statement issued on Friday in Abuja.
He said that the fund was released to the three tiers of government
while reconciliation of the revenue underpayment was still ongoing.
The statement reads in part, “Owing to disagreement on
remittances by the revenue generating agencies, especially the NNPC, the
sharing of revenues for May 2018 that was meant to be distributed in
June 2018, was put on hold.
“However, the urgent need to cushion the undue hardships being
experienced by workers nationwide has made it necessary to distribute
the May figures totalling N668.898bn to the three tiers of government,
while efforts are being intensified to address the unsatisfactory
remittances.”