Home Economy Edo JAAC declares N2.77bn allocation for LGAs

Edo JAAC declares N2.77bn allocation for LGAs

by Business News Report

The Edo State Joint Account and Allocation Committee (JAAC) has declared N2,769,964,452 as total allocation that accrued to the 18 Local Government Areas (LGAs) of the state from the Federation Account for the month of February, shared in March 2019. Chairman, Oredo Local Government Area, Hon. Jenkins Osunde, disclosed this at the end of the monthly JAAC meeting presided over by Governor Godwin Obaseki, at Government House, in Benin City, Edo State.

Osunde, who is also Chairman, Edo State Chapter of the Association of Local Government of Nigeria (ALGON), noted that teachers’ and non-teachers’ salaries gulped N1,143,184,336, while Local Government contributions for pension is N276,144,513. “Total deduction from LGAs is N1,740,183,728 and net allocation to LGAs is put at N1,029,780,723. Total amount transferred to LGAs stands at N1,015,930,901,” he added.

According to him, “February Internally Generated Revenue (IGR) is N175, 843,666. Net IGR paid to LGAs is put at N131, 678, 251.” Osunde explained that there was decline in the allocation for February as well as IGR, which is expected to increase in the month of March, as the decline was on account of the election period.

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