The Distribution Details of Revenue Allocation to Local Government Councils by the Federation Account Allocation Committee for the month of August, 2009 have been released.
In a release by the Federal Ministry of Finance, Abuja, Ika North East Local Government Council got as Gross Statutory Allocation N46, 643,296.09 (forty-six million, six hundred and forty-three thousand, two hundred and ninety-six naira, nine kobo) while distribution from Foreign Excess Crude Saving Account for August, 2009 Augmentation amounted to N 19,348,367.97 (nineteen million, three hundred and forty-eight-thousand, three hundred and sixty-seven naira, ninety-seven kobo). Exchange Gain Allocation and Value Added Tax came to N4,537,564.05 (Four million, five hundred and thirty-seven thousand, five hundred and sixty-four naira, five lobo and N17,481,815,21 (seventeen million, four hundred and eighty-one thousand, eight hundred and fifteen naira, twenty-one kobo) respectively, bringing the Total Allocation to N88, 011 063.31 (eighty-eight million, eleven thousand, sixty-three naira, thirty-one kobo)
Ika South Local Government Council on the other hand received N44,461,818.40 (forty-four million, four hundred and sixty-one thousand, eight hundred and eighteen naira, forty-kob) as Gross Statutory Allocation, N18,443,456.94 (eighteen million, four hundred and forty-three thousand, four hundred and fifty-six naira, ninety-four kobo) as Distribution from Foreign Excess Crude Savings Account for August, 2009 Augmentation, N4,325,364.09 (four million, three hundred and twenty-five thousand, three hundred and sixty-four naira, nine kobo) as Exchange Gain Allocation and N16,868,405.18 (sixteen million, eight hundred and sixty-eight thousand, four hundred and five naira, eighteen kobo) as Value Added Tax, bringing the Total Allocation to N84,099,044.61 (eighty-four million, ninety-nine thousand, forty-four naira, sixty-one kobo).
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