From Adedeji Joseph, Ilorin
The Kwara State Government has released its federal allocation figures for the months of June and July, 2018.
In a statement on Saturday by the Senor Special to the governor on Media and Communicatiosi, Dr. Muideen Akorede, the State Commissioner for Finance, Alhaji Demola Banu reported that the State government received a total of N3, 647, 209, 363.97 as allocation for June.
A breakdown of the June allocation figures shows that the State government got a statutory allocation of N2, 775, 630, 308.40 and Value Added Tax (VAT) of N871, 579, 055.57.
For July, Banu said the state government got a total of N3, 736, 644, 795.48 as allocation for the month.
He explained that the July allocation was N 2, 890, 575, 029.68, Value Added Tax (VAT) of N800, 155, 369.71 and exchange difference of N45, 914, 396.09.
The Commissioner, he said, also reported that the 16 Local Government Councils in the State received a total of N2, 604, 769, 806.48 as allocation for the month of June.
The Local Councils got a statutory allocation of N2, 110, 667, 033.06 and Value Added Tax (VAT) of N494, 102, 773.42.
Banu added that the July allocation to the councils stood at N2, 680, 279, 278.01. The councils’ July allocation is made up of statutory allocation of N2, 196, 374, 385.08, Value Added Tax (VAT) of N453, 621, 236.42 and exchange difference of N30, 283, 656.57.
The Commissioner clarified that the Federal Accounts Allocation Committee (FAAC) agreed at its meeting in Abuja on Friday to save N100 billion against future drops in allocation or other revenue fluctuations.
