The Federation Accounts Allocation Committee (FAAC), on Thursday shared the sum of N680 billion among the three tiers of government for the month of April.
The money was from the revenue that accrued to the federation in the month of March, which has been distributed to enable government meet its financial obligations for the month of April.
An official of the Federal Ministry of Finance, Budget and National Planning who disclosed the amount, did not provide details of what each tier of government received. He said that top officials of the ministry and the FAAC were preparing the statement.
The declining revenue profile of the nation has generated tension between the federal and state governments recently.
The disagreement between officials of the two tiers of government over the poor revenue led to a stalemate at last month’s FAAC meeting, It was learnt.
Reliable sources said the disagreement was responsible for the failure of the ministry to issue any statement last month. The debate generated by Edo State Governor Godwin Obadeki’s claim that the federal government printed N60 billion to augment March Federation Accounts Allocations, has also continued to rage.
