Home Breaking News Delta State Recieved N88.27bn In One Year

Delta State Recieved N88.27bn In One Year

by blcknyt1511

The Delta State Government has refuted the contents of a front page publication in one of the national newspapers on June 13, 2016, which purported to give details of the grand total of the Federation Account Allocation to States and Local Government Councils from May 2015 to June 2016.

A press release signed by the state Commissioner for Information, Mr. Patrick Ukah, described the publication as untrue.
The report wrongly stated that Delta State got N144, 706, 571, 893.61 from May 2015 to June 2016 instead of N88, 271, 852, 589.55 that the state actually received.

According to the press release, the period covered gave the impression that the FAAC receipts for June 2016 had been received by June, 13, 2016. This ‘fact’ again is incorrect because the FAAC meeting for June 2016 which approved the release of funds for the month was held on June 21, 2016 and funds for that month were received on June 27, 2016 by Delta State Government.

The press release revealed that the report failed to distinguish what accrued to the State Government from what was allocated to the Local Government Councils; a separate tier of Government.

It went further to state the total figures, and ignored the deductions made at source from the gross allocation, thereby giving the impression that the entire amount was released to the State.

According to the press release, ‘for the purpose of keeping the records straight, we state that for the one-year period of the administration of His Excellency, Senator Dr. Ifeanyi Okowa, the financial summary of FAAC receipts from June 1, 2015 to May 31, 2016 is as follows: Gross Allocation: N111, 642, 776, 745.82, Deductions: Bonds, Foreign And Local Loans And Refunds To FAAC: (23, 370, 924, 156. 27), Net Allocation To Delta State: N88, 271, 852, 589.55, Allocation To Local Government Councils: N28, 561, 041, 308.32’.

From the analysis of funds allocated to Delta State for the period of June 1, 2015 to May 31, 2016, as shown above, it is obvious that Delta State got N88, 271, 852, 589.55 and not N144, 706, 571, 893.61 as contained in the report, the press release added.

You may also like

Leave a Comment