Allocation: Ogun to Bail Out LGs With 392.4 Million Naira
Via Vanguard

Allocation: Ogun to Bail Out LGs With 392.4 Million Naira

Ogun state government plans to bail out the state’s 20 local governments with 392.4 million naira following a sharp drop in their statutory allocation from the federation account for the month of May, 2022.

The bail out, according to the finance commissioner, Dapo Okubadejo, is to enable the councils meet their first line charges.

The first line charges include salaries of the council staff, salaries of primary school teachers, and allowances of the traditional councils.

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Okubadejo, represented by the state’s accountant general, Babatunde Aregbesola, announced this at the meeting of the May 2022 joint account allocation committee, held in Abeokuta.

According to him, the councils received a total of 3.17 billion naira from the federation account while they have 4.21 billion naira first line charges commitment.

Despite the state government’s 392.4 million naira bail out, the commissioner says the councils will still have to source for fund to pay other outstanding bills for the month.

He listed the outstanding bills still hanging as including 646.6 million naira for the pay-as-you-earn, contributory pensions, the five percent bond on pensions and deductions for co-operative societies.

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