July Allocation: Ekiti State Releases Allocation From Federation Account

The Ekiti State Government on Sunday released the amount that accrued to the State and its Local Government Areas from the Federation Account for July 2018.

The figures were released by the Office of the Special Adviser to Governor Ayodele Fayose on New Media, Lere Olayinka.

According to the figures, the state earned N3,344,933,721.11 from the Federation Account Allocation Committee distributable for July 2018.

This was outside the deduction of N974,444,490.48 from source for loans and other sundry issues.

It is made up of net allocation of N2,370,489,230.63; value Added Tax of N818,538,881.08; and excess bank charges of N46,120,016.95, making a total allocation of N3,235,148,128.66.

For the 16 local government areas of the state, there was a gross statutory allocation of N1,937,633,072.46; a VAT of N463,906,607.77; and excess bank changes of N26,716,125.82, bringing total earnings to N2,428,255,806.05.

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