Govt receives N3.1bn from FG's July allocation

chika ebuzor

July 23, 2016 8:39 AM

Banu expressed optimism that with the increased allocation, local governments should be able to meet more of their contractual obligations.

Kwara State Governor Abdulfatah Ahmed

The Kwara Government said it had received about N3.1 billion from the Federation Account as allocation for July.

The state Commissioner for Finance, Alhaji Demola Banu, released the figure in a statement on Friday in Ilorin.

Giving a breakdown, Alhaji Banu disclosed that the government got a statutory revenue allocation (SRA) of N1, 964, 362, 872.63; VAT of N621, 720, 038.40; Exchange Difference of N473, 821. 529.00; and proceeds from solid minerals, N57, 729, 715.55, totaling N3, 117, 634, 155.58.

While giving further details of the allocation received by the 16 local governments in the state, the Finance Commissioner said that they got a total of N2, 233, 730, 999.61 as July allocation.

He siad the details of allocation to each local government would be made public after the Joint Accounts Allocation Committee (JAAC) meeting.

The Federation Accounts Allocation Committee (FAAC) had on Thursday in Abuja shared N559.03 billion among the three tiers of government following a dramatic increase recorded in the Federal Government's revenue drive in the previous month.

chika ebuzor