In spite of the recent appreciation of crude oil price in the global market, quantity shock has impacted negatively on allocation to the three tiers of government for the month of September as the spate of attacks on oil installations and pipeline vandalism showed no sign of abating. From N510.270 billion shared by the three tiers of government for August allocations, the sum of N420 billion was approved for sharing at the Federation Account Allocation Committee (FAAC) meeting in Abuja yesterday, indicating a decline of N90.2 billion.
Read more : http://www.thisdaylive.com/index.php/2016/10/21/monthly-allocation-drops-by-n90-2bn-fg-states-lgs-share-n420bn/
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