Revenue Allocation Under Way

The distribution of Revenue for the month of April to the three tiers of government is under-way. The amount shared will be announced today. The delay in the sharing it seems arises from crude oil theft in the South-South region.

70 to 90 percent of the amount shared is usually derived from Crude oil sales. The amount to be shared is said to be 796 billion Naira. This is an unconfirmed amount, the real amount will be disclosed today.

Due to the short-fall in crude oil sales caused by oil theft the Excess Crude Account would be tapped. The Excess crude account stands at $4.3 billion.