The Nigeria’s Government Federation Account Allocation Committee has distributed the sum of N617.56bn to the three tiers of government as their share of the proceeds from the sale of crude oil in the International market for the month of March. The Country’s Accountant-General of the Federation, Ahmed Idris, who disclosed this in Abuja said the amount represented a decrease of N2.19bn when compared to the N619.85bn allocated in the month of February. He explained that during the period, crude oil export sales increased by about 49.18 per cent due to the increase in lifting volume which he claimed resulted to an increased federation revenue of about $240.23m.
