The Federation Accounts Allocation Committee (FAAC) on Wednesday in Abuja shared the sum7 of N721.505 billion for the month of April.

Yerima Ngama, the Minister of State for Finance, made this known when he briefed newsmen on the outcome of the FAAC meeting.

” The distributable statutory revenue for the month is N531.332 billion; there is augmentation of N92.436 billion which brings the total statutory allocation to N623.768 billion.

” Also distributed is the sum of N7.617 billion refunded by the NNPC. In addition, the sum of N35.549 billion is proposed for distribution under the SURE-P programme.

” The total revenue distributable for the current month, including the value added tax is N721.505 billion,’’ he said

See the breakdown of the money here: http://premiumtimesng.com/news/134541-nigeria-federal-government-states-local-governments-share-n721bn-for-april.html