Monthly revenue shared among the three tiers of government depleted for the month of February.
The sharing was done at the end of a rescheduled Federation Accounts Allocation Committee meeting at the Ministry of Finance on Monday.
FAAC distributed N581.56bn among the federal, states and local governments. The sum declined by N65.79bn compared to what was shared in January.
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There have been sharp drops in oil revenue, which is the country’s mainstay, due to the spread of the Coronavirus Disease.
The February allocation was composed of statutory revenue of N466.05bn, N99.55bn of value added tax, N15.19bn from Forex equalisation account and N757m exchange gain.
According to a communiqué issued at the end of the meeting, the Federal Government was allocated N236.11bn, the states received N159.01, while the local councils got N119.3bn.
Also, oil-producing states received 45.31bn as 13 per cent derivation.
Revenue generating agencies were not left out as they also got N21.82bn to cover cost of revenue collection.
The meeting, which had held last week but was rescheduled for Monday, ended in a stalemate as parties disagreed with the amount presented for sharing.
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