Government receives N3b, LGs get N2.2b for October

October 25, 2017 4:26 PM

The State Commissioner for Finance, Alhaji Demola Banu, disclosed this in Ilorin on Tuesday.

The Kwara State government got a total of N3,036,649,965.12 as allocation from the Federation Account for the month of October, 2017.

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The State Commissioner for Finance, Alhaji Demola Banu, disclosed this in Ilorin on Tuesday, October 24, 2017.

He said that the October allocation recorded a N496,600,981.45 reduction from the N3,533,295,946.57 the state government received in September.

A breakdown of the allocation shows that the government got a statutory allocation of N1,975,327,770.78, Value Added Tax (VAT) of N772,813,180.21 and exchange difference of N288,554,014.13.

Details of the October allocation to the 16 local government councils in the state show that they got a total of N2,184,264,352.98 against the N2,508,113,236.17 they received last month.

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According to the figures released by the Finance Commissioner, the councils received a statutory allocation of N1,555, 329,112.84, VAT of N438,614,308.29 and exchange difference of 190,320,931.85, making a total of N2,184,264,352.98.