The Federal government distributed N606 billion from federal accounts to its three tiers of government for June, broadly in line with the previous month, the accountant general said on Friday.
"The total revenue distributable for the month (including VAT) is 606.443 billion naira," Accountant General Jonah Otunla said after a meeting of the Federal Accounts Allocation Committee.
Gross revenues in Africa's top energy producer rose to 883 billion naira from 670 billion the previous month due to higher global oil prices, he said in a statement.
Nigeria's new sovereign wealth fund, which it hopes will better enable it to save windfall oil revenues, will take off immediately after the country's new finance minister takes office, finance ministry official Dandali Kifasi said.
He said he hoped that the process of naming new officers to run the fund would be underway by the next federal accounts committee meeting in a month's time.
In the meantime, windfall savings would continue to be held in the country's Excess Crude Account (ECA).
President Goodluck Jonathan was sworn in at the end of May after winning general elections and is in the process of appointing his new government.
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