The three tiers of government are to share a total of N574.940 billion for the month of October, 2012.

Briefing journalists after the Federation Account Allocation Committee (FAAC) meeting in Abuja, the Minister of State for Finance, Dr Yerima Ngama said the amount shows an increase of over N8 billion over the funds shared in September.

He pointed out that N172.505 billion would be transferred to the excess crude account, a significant increase from the N140.703 billion transferred to the account last month.