IKA NORTH-EAST AND IKA SOUTH COUNCILS RECEIVE AUGUST ALLOCATION

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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