Representatives of state governments at the last Federation Accounts Allocation Committee meeting have bemoaned the decision by the Federal Government to save additional revenue for the payment of the new minimum wage.
This development, which affected their revenue distribution from the federation committee, was received with opposing views when an update on statutory allocation showed that the government transferred a sum of N200bn into the non-savings account at the August FAAC meeting, making a total of N595bn.
The Commissioners of Finance, Akwa Ibom, Dr Linus Noah; Delta, Okenmor Tilije and Ekiti, Akintunde Oyebode raised the observation at the last FAAC meeting held August 16, 2024.
At the meeting, it was learnt the committee distributed a total sum of N1.36tn to the three tiers of government, N1bn less than N1.35tn shared in June.
