LATEST UPDATE: States seek $2 billion from oil account for projects
Nigeria’s 36 state governments requested to withdraw $2 billion from the country’s $4.11 billion oil savings account to complete projects and provide security ahead of February polls, Timothy Odaah, the chairman of the States’ Commissioners of Finance Forum, said on Wednesday.
Revenues to be distributed to the country’s three tiers of government in October – federal, state and local – were 593.33 billion naira, down from 603.5 billion naira in September, Accountant General Jonah Otunla said.
Central government revenues rose to 536.69 billion naira in October, up 6.9 percent from September owing to improvements in crude revenues, despite a sharp fall in global oil prices, Otunla also said.
(Reuters )
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Nigeria’s 36 state governments requested to withdraw $2 billion from the country’s $4.11 billion oil savings account to complete projects and provide security ahead of February polls, Timothy Odaah, the chairman of the States’ Commissioners of Finance Forum, said on Wednesday.
Revenues to be distributed to the country’s three tiers of government in October – federal, state and local – were 593.33 billion naira, down from 603.5 billion naira in September, Accountant General Jonah Otunla said.
Central government revenues rose to 536.69 billion naira in October, up 6.9 percent from September owing to improvements in crude revenues, despite a sharp fall in global oil prices, Otunla also said.
(Reuters )
Thanks for Reading The LATEST UPDATE: States seek $2 billion from oil account for projects
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