Kwara Government has received a total inflow of N3,576,113,211:84 (net) as federal allocation for the month of January.
Mr. Daibu Abubakar, the Press Secretary, Ministry of Finance and Planning, disclosed this in a statement issued on Saturday in Ilorin.
He said the allocation comprised of statutory revenue allocation SRA (Gross) of N2,255,681,423:03, deductions (loans) of N311,433,452:27; Value Added Tax (VAT) of N1,573,032,994:62; Exchange Gain Difference of N21,194,766:68; and Forex Equalization fund of N37,637,479.78.
He added that the figure was higher by N171, 429,665:67 when compared with December, while N776, 799:59 was deducted at source as the first tranche of payment of FAAC Disbursement Software.
He said further that the 16 local government areas also received a total sum of N2, 310,296,927:17 (net) as federal allocation for the month.
“The figures comprise SRA (Gross) 1,487,774,799:00; Deductions N106,965,494:08; SRA (Net) N1,380,809,304:92; VAT 890,683,767:79; Exchange Gain Difference N13,979,385:31; and Forex Equalization fund N24,824,469:15.
“The figure is higher by N95, 263,882:26 when compared with last month, while N932, 159:52 was also deducted at source in Abuja for payment of FAAC Disbursement Software from the LGAs’ allocation,” Abubakar said.
© Copyright 2020 ElombahNews.
DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!
Would you like to be receiving ALL ElombahNews links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via firstname.lastname@example.org or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD ElombahNews mobile app here
Send eyewitness accounts/ reports/ articles to email@example.com; follow us on twitter @ElombahNews; like our Facebook page ElombahNews