20 LGs In Ogun Get N4.5bn For November Allocation, .. Assures Of Improved Share From Federation Account - EDU-BIZNEWS


Tuesday, December 20, 2022

20 LGs In Ogun Get N4.5bn For November Allocation, .. Assures Of Improved Share From Federation Account


The 20 Local Governments in Ogun State have received a total of  N4,525,707,892.48 (four billion, five hundred and twenty five million, seven hundred and seven thousand, eight hundred and ninety-two naira, forty-eight Kobo) as their monthly allocation for November from the Federation Account

The State Commissioner for Finance and Chief Economic Adviser, Mr.Dapo Okubadejo made this known during the December, 2022 edition of the Joint Account Allocation Committee (JAAC) meeting at the Oba’s Complex, Oke-Mosan, Abeokuta, 

The commissioner represented by the Permanent Secretary and Accountant-General of the State Treasury, Mr. Babatunde Aregbesola, explained that N4,327,896,210.24 would be used to pay the first-line charges, which include Primary School Teachers’ Salaries, Local Government Staffs’ Salaries, Pensions, Traditional Councils, Payment of Pay As You Earn (PAYE)  Arrears, Statutory Payment to Local Government Service Commission, Release to Local Government and other charges, saying this excluded PAYE and five percent Bond on Pension amounting to N312,860,888.22, while the sum of N510,672,570.46 remains as gross surplus for the month.

Also the State Commissioner for Local Government and Chieftaincy Affairs, Hon. Ganiyu Hamzat speaking during the meeting, however  assured them of an improved share of  monthly allocation from the Federation Account in the coming fiscal year 

He also assured the Local Governments of the Prince Dapo Abiodun's administration's committment to provision of dividends of democracy to the people at the grassroots.

Hamzat gave the breakdown of N4.5billion received by  the 20 councils to include shares of Statutory Allocation, Value Added Tax (VAT), Exchange Gain and Electronic Money Transfer Levy (EMTL), from November 2022 Allocations.  

The  Commissioner appreciated the stakeholders for their commitment to the success of the meeting, since the beginning of the year,  noting that the economy of the country and the world would get better. 

On his part, the Executive Chairman, Ijebu-Ode Local Government, Hon. Babatunde Emilola-Gazal, lauded the State government for always coming to the aid of the LGAs at augmenting funds from Federal Allocation throughout the year, calling for the review of funds allocated to the councils as the third tier of government, in order to have the desired development at the grassroots.

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