Home Economy Edo Joint Account Allocation Committee declares N3.2bn for July

Edo Joint Account Allocation Committee declares N3.2bn for July

by Business News Report

Edo State Joint Account Allocation Committee (JAAC) has declared a total of N3.2 billion as the total allocation that accrued to the state in the month of July. The state recorded an increase of N300 million compared to the previous month, when it hauled in a total of N2.9 billion. Chairman, Oredo Local Government Area, Mr. Evbareke Jenkins Osunde, disclosed this while briefing newsmen shortly after the end of JAAC meeting presided over by the Governor of the state, Mr. Godwin Obaseki.

Osunde said that of the N3, 243, 012,057.44 teachers’ salaries will gulp N1, 091, 070, 754. 84 while pensions fund contribution stood at N264, 115, 845.36. He added that the total deduction for July stood at N1, 667, 738, 909.66 and net allocation shared was N1, 406, 769, 191.71. He said that the governor also approved a special grant for traditional rulers through the Local Government Councils, assuring that details of the grant would be announced later.

Recall that JAAC recorded N5 million increase in Internally Generated Revenue (IGR) of the local councils in June, which formed part of the N2.9 billion declared for the month. Osunde had noted that the internally generated revenue in local councils increased from N206 million recorded in May to N211 million recorded in June 2018. “Teachers’ salaries deducted for June was N1,081,654,814.22, contribution for pension fund stood at N264, 115, 845.36, while pension arrears paid was N100 million,” Osunde was quoted as saying and lauded Governor Obaseki for assisting local councils with the payment of workers’ salary for the month of June.


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