So, the monthly “national cake” got shared on Thursday and it appears that the “cake” continues to shrink.

The “cake” sharing committee, the Federation Account Allocation Committee, FAAC distributed 698.71 billion naira to the three tiers of government as September allocation, but that was smaller than what was shared in August.

The amount represents a decline of 43.13 billion naira over the 741.84 billion naira shared in August.

The amount was shared at the FAAC meeting, which was presided over by the Minister of Finance, Zainab Ahmed.

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A breakdown of the amount showed that after deducting the cost of collection to the revenue generating agencies, the Federal Government got 300.1 billion naira; the states, 184.43 billion naira while the Local Government Councils got 139 billion naira.

The committee also allocated the sum of 59.09 billion naira to the oil producing states based on the derivation principle of 13%.

A communiqué issued after the meeting, which was signed by the Accountant-General of the Federation, Ahmed Idris, put the gross statutory revenue for the month of September at 569.28 billion naira.

This, it stated, was 57.85 billion naira lower than the 627.13 billion naira realised in August.

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