Access Bank PLC

Ekiti Govt debunks APC lies on Federal Allocation, says State got N4.1bn in June

First Bank Nigeria

Ekiti State government has debunk claim by the All Progressives Congress (APC) that the State got a total sum of N8.5bn from the Federation Account in June, saying that the State got a total sum of N4.1bn while the 16 Local Councils got N2.7bn.

Reacting to claim by the APC, Chief Press Secretary to the governor, Idowu Adelusi said lying has become the first name of the APC, urging Ekiti people to ignore them as they have always done.

He said; “In June, Ekiti State got net allocation of N1,958,432,714.17 and in July, the State got a sum of N2,687,536,884.88.

“The breakdown for June allocation is as follows; Gross Allocation (N1,815,552,424.75), Value Added Tax (N536,678,738.75) and Exchange Rate Gains (N171,236,640.31).

“The following deductions were made from the allocation, Foreign Loan (N42,260,280.19), Contractual Obligations-ISPO (N397,196,808.00), Commercial Agriculture Credit Scheme (N23,120,001.44) and Bond Issuance Programme 2 (N102,458,000.01), totalling N565,035,089.64.

“If N565,035,089.64 is deducted from the gross allocation of N1,815,552,424.75, it will leave a sum of N1,250,517,335.11 and this added to VAT and Exchange Rate Gains will be N1,958,432,714.17.

“In June also, Ekiti State got N2,173,624,315.39 from the Liquefied Natural Gas proceed while the 16 Local Councils got N1,259,124,010.15, totalling N3,432,748,325.54.

“Addition of the State’s June allocation of N1,958,432,714.17 and the LNG Proceed of N2,173,624,315.39 will be N4,132,057,030.

“The local councils total allocation for June of N1,455,018,959.92 added to the N1,259,124,010.15 LNG Proceed will be N2,714,142,970 and if this is added to the State total June revenue of N4,132,057,030, it will amount to N6,846,200,000.

“The facts as laid bare here is that Ekiti State and the 16 Local Councils got N6.8bn in June.

“Our question then is, where did the APC liars get their own voodoo June Federal Allocation of N8.5bn from?”

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button