Oyogist.com has learned that the Federal Government of Nigeria has allocated the sum of N680.687 billion to be shared among states and local governments in the country.
Out of the Initial N800 billion revenue recorded by the Federation account, the federal government demanded that a portion of the money should be saved, which agitated the state governments.
According to sources;
“The Federal Government was obliged to honour the gentleman’s agreement of sharing N650 billion for the month. But the economic realities of today have forced it to save whatever it can to mitigate economic volatilities.
“The Federal Government, the source said, “stood its ground and after several hours of consultations between governors and their commissioners of finance on the one hand and a resolute Federal Government on the other.
“A compromise was reached and the Federal Government released an additional N30 billion to the already agreed N650 billion.”
