The State’s Commissioner for Information, Mr Kayode Akinmade, gave the figure in Akure during a chat with journalists.
He said the disclosure of the figure was in fulfilment of government’s promise made to the people of the state to always communicate to them details of money accessed from the Federal Allocation as they occur.
Giving details of the state’s receipt from the Federation Account for the month of June, Akinmade explained that N1.37bn was received as the statutory net of the payment, Oil derivation is N 0.751bn, Value Added Tax (VAT) accounts for
N 0.699bn, exchange rate gain is N 0.677bn and N 0.077bn accounts for gains from solid minerals.
He explained that with 40% of the N 0.751bn from derivation going to OSOPADEC and the Irreversible Standing Payment order ( ISPO) of N300m removed, the state is left with N2.85bn.
The commissioner also disclosed that N 2.4bn was received as the allocation for local governments in the state for the same month of June.
Akinmade noted that the June allocation to the state was an improvement on what was received in May, adding that nothing has been said by the Federal Government on the anticipated budget support promised to states.
He stated that details of the allocation to states is also available on Federal Ministry of Finance website for perusal by the general public
