The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has approved the disbursement of additional N60 billion to the three tiers of government as part of the September 2022 Federation Account Allocation Committee (FAAC) disbursements.
The Nation learnt that the additional N60 billion was added to the N700.235 initially approved for disbursement for September. This brought the total shared amongst the three tiers of government for September 2022 to N760.235 billion. A source at the FAAC told The Nation that sharing the N60 billion “was a lingering issue waiting to be resolved by the minister”.
The source further stated that aggrieved parties at several meetings “had demanded that the money be shared but their months of persistence paid off when the matter was recorded for debate at Wednesday’s FAAC meeting under ‘Matters Arising’.
However, the Wednesday FAAC meeting ended with the house agreeing to share N700.235 billion while the request for approval for the extra N60 billion was transmitted to the finance minister, and was granted yesterday. A different communiqué issued to this effect yesterday by the federal government stated “the sum of N60 billion savings from Non-Oil Revenue which was converted to distributed revenue was shared as follows; federal government, N31.608 billion, states, N16.032 billion and local government councils, N12.360 billion. (The Nation)
