Nestled within Ogun Central Senatorial district, spanning 538.497 sq km across 11 wards, Ifo Local Government Area (LGA) received a substantial sum of #522.18 million from the Federation Account Allocation Committee (FAAC) in June ’24 from the total revenue generated in May 2024.
Among Ogun State’s 20 LGAs, Ifo secured the second-highest allotment, following Ado-Odo/Ota’s #527.14 million.
The breakdown includes #43.92 million from the Statutory Account, #167.74 million from Exchange gains, and #11.42 million from the Electronic Money Transfer Levy (EMTL). Additional revenues from Value Added Tax totalled #292.75 million, with an Ecology Share contributing #6.35 million.
In the first half of 2024 alone, Ifo LGA has amassed a significant #3.156 billion, excluding the LGA’s Internally Generated Revenue (IGR), trailing only Ado-Odo/Ota LGA’s #3.186 billion during the same period in Ogun State.
However, questions persist regarding whether these substantial funds translate into tangible benefits for Ifo LGA residents.
Following the recent Supreme Court judgment on LGA financial autonomy, the responsibility now rests on residents to demand transparency and accountability from the LGA Administrators.
For comprehensive FAAC Allocation details for other States and LGAs, visit the website below:
