Nigeria distributed 414.3 billion naira from federal accounts to its three tiers of government for January, up 0.85 percent on the previous month, the acting accountant general said on Monday.

The total revenue distributable for the month (including VAT) is 414.305 billion naira, Acting Accountant General Aderemi Ogunsanya said after a meeting of the Federation Account Allocation Committee (FAAC) responsible for the disbursals.

The monthly distributions have a major impact on liquidity in sub-Saharan Africa's second-biggest economy and can trigger shifts in bond yields and interbank rates.

Gross revenues in Africa's biggest crude oil exporter came in at 610.8 billion naira in January, up from 581.6 billion the previous month due to global oil prices significantly above the $60 per barrel used as a benchmark in the 2010 budget.