The Federal Government declared generated revenue for the month of November as N369.88 billion and it was share to the three tiers of government after the Federation Account Allocation Committee [FAAC] meeting in Abuja yesterday.
The November revenue is N103.95 billion less compared with that of October but it will enable all the tiers of government to pay workers salary.
At the meeting yesterday in Abuja, the Minister of Finance, Mrs. Kemi Adeosun, declared that statutory allocation of the three tiers of government witnessed a decline of N103.95bn in the month of November from N473.83bn distributed in October to N369.88billion.
She explained that the decline was caused by several factors, which include shutdown and shut-in of production at various terminals during the period.
Her words: “The gross statutory revenue of N297.45bn received in the month was lower than the N400.3bn received in the previous month by N102.86bn.
