Neco 2019 Government Question 23

A local government council receives three sources of revenue: (1) a fixed grant of ₦15,000,000 from the state, (2) a share of the national allocation equal to \(0.5\%\) of the national tax revenue, and (3) locally generated revenue equal to \(2\%\) of the total assessed property value in its jurisdiction. In the current fiscal year, the national tax revenue is ₦3,600,000,000 and the total assessed property value is ₦4,500,000,000. The council plans to allocate \(60\%\) of its total revenue to capital projects, \(30\%\) to recurrent expenditure, and \(10\%\) to a contingency fund. However, the state government imposes a condition that at least ₦5,000,000 must be set aside for maintenance of public infrastructure, which must be taken from the capital projects allocation. Determine (a) the total revenue of the council, (b) the amount available for capital projects after meeting the maintenance condition, and (c) the amount finally allocated to the contingency fund.