Kwara Govt. receives N3.2bn as federal allocation in February

Kwara Govt. receives N3.2bn as federal allocation in February

Saturday, February 29, 2020 7:19 pm

Governor Abdulrahman-Abdulrazaq of Kwara

Kwara Government has received N3, 255, 019, 095:98 as allocation from the federation account for the month of February.

The state Commissioner for Finance and Planning, Mrs Oyeyemi Olasumbo Florence made this known in a statement on Saturday in Ilorin.

She said the state got N2, 286, 737, 054.07 (net) Statutory Revenue Allocation (SRA) and N958, 364, 447:96 value added tax (VAT).

Oyeyemi said part of the allocation was the sum of N5, 783, 677:33, which was for exchange gain and N4, 133, 916:62 excess bank charges bringing the total to N3, 255, 019, 095:98.

“The N3.2billion excludes the N610, 762, 826:72 deductions by the Federal government for various loans inherited by the administration,

“For the month, the state government spent N2, 368, 021, 322.69 on salary, pension and gratuities; and N302, 926, 219.91 on running costs across the Ministries, Departments and Agencies (MDAs), totaling N2, 670, 947, 542.6 ,” she said.

The commissioner said a total of N2, 461, 583, 280:22 was received by the 18 local governments in the state as allocation for February.

She gave the breakdown of N1, 911, 097, 577:32 as statutory allocation; N543,944,377:44 as VAT; N3,814,727:24 (Exchange Gain) and N2,726,598:22 (Excess Bank Charges).

“While the entire local government coucils got a total net allocation of N2,461,583,280:22, they spent N2,610,550,422.13 on salaries and other workers’ obligations for the month,” she added.

The Commissioner said the local governments have a shortfall of N148,967,141.91 (or 6.05%) sourced from their entire IGR (N94,544,870.07) and another N54,422,271.84 from their reserve.

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