The release according to the
office of the Account-General of the Federation shors that Ika North East Local
Government Council Govt. a Total Allocation of N88,693, 544.68/eight-eight
million, six hundred and ninety-three thousand, five hundred and forty-four
naira, sixty-eight kobo). The council received N39,256,493.89 (thirty-nine
million, two hundred and fifty-four thousand, four hundred and ninety-three
naira, eight-nine kobo) as Grass Statutory Allocation, N26, 740, 724.70
(twenty-six million, seven hundred and forty thousand, seven hundred and
twenty-four naira, seventy kobo) as Distribution from Foreign Excess Crude
Savings Account, N6,104,276, 06 (six million, one hundred and four thousand,
two hundred and seventy-six naira, six kobo) as Exchange Gain Allocation and
N16,594,050.03 (sixteen million, five hundred and ninety-four thousand, fifty
naira, three kobo) as value Added Tax.
The Total Allocation for Ika
South Local Government Council amounted to N84, 692,992.67 (eighty-four
million, six hundred and ninety-two thousand, nine hundred and ninety-two
naira, sixty-seven kobo). The breakdown shows that the council received as
Gross Statutory Allocation, N37,418,585.85 (thirty-seven million, four hundred
and eighteen thousand, five hundred and eight-five naira, eighty-five kobo),
Distribution from Foreign Excess Crude
Savings Account, N25,490,077.78 (twenty-five million, four hundred and ninety
thousand, seventy-seven naira, Seventy-eight kobo), Exchange Gain Allocation,
N5,878,782.90 (five million, eighty hundred and eighteen thousand, seven
hundred and eighty-two naira, ninety kobo) and Value Added Tax, N15,965,546.15,
(fifteen million, nine hundred and sixty-five thousand, five hundred and
forty-six naira, fifteen kobo). Thus bringing the total amount for the two
local Government Council to N173,386,537.35 (one hundred and seventy-three
million, three hundred and eighty-six thousand, five hundred and thirty-seven
naira, thirty-five kobo).
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