Alarming! See How Much Federal Government Lost in Just One Month

Details from the Federation Accounts Allocation Committee which held yesterday, have revealed that the federal government's revenue fell sharply. 

 The federal government revenue plunged in the month of September by N47.14bn when compared with what the revenue generating agencies reported as total collection for August.

At the Federation Accounts Allocation Committee meeting held in Abuja on Wednesday, October 28, the three tiers of government shared a total of N389.94bn.

The Permanent Secretary, Ministry of Finance, Mrs. Anastesia Daniel-Nwobiala, who briefed reporters after the meeting, said said the government was worried about the dip in revenue, which has continued for some time.

As a result, she said the government had begun working with a consultant to ensure that the tax revenue base was enlarged.

The permanent secretary also disclosed that the second quarter capital budget had been released, adding that some Ministries, Departments and Agencies of government had been able to access the fund.

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